LONDON Oct 25 European shares slipped back from
multi-year highs on Friday hit by some weak earnings updates
from leading blue-chip companies.
The pan-European FTSEurofirst 300 index, which hit
a fresh 5-year high of 1,291.93 points this week, fell 0.3
percent to 1,281.79 points by 0705 GMT.
The euro zone's blue-chip Euro STOXX 50 index
also declined by 0.5 percent to 3,022.64 points.
A 4 percent fall at France's Schneider Electric
took the most points off the FTSEurofirst 300 index, after
Schneider cut its forecasts while truckmaker Volvo
also slumped 6 percent after posting a deeper-than-expected fall
in quarterly earnings.
"Earnings-wise, it's been a very mixed bag. If anyone
misses, they get hit at the moment," said Terry Torrison
managing director at Monaco-based McLaren Securities.
"I think we have to have a breather before we go higher
again. We're looking overbought in the short-term but I'm still
bullish going into the end of the year," he added.