LONDON Jan 31 European shares edged lower in
early trading on Friday following mixed earnings releases, with
Electrolux falling 5.8 percent after posting a bigger
than expected drop in fourth-quarter core earnings.
At 0807 GMT, the pan-European FTSEurofirst 300 index
was down 0.2 percent at 1,291.35 points. It has fallen
nearly 2 percent this month and is on track to end January in
negative territory after gaining in the previous four months.
Investors also remained cautious as the situation in emerging
markets is still fragile even after some central banks took
action to try to prop up tumbling currencies.
"Emerging market volatility is going to be our companion for
a while and may have a slightly negative impact on earnings as
some companies will have to take currency losses on some of the
assets denominated in foreign currencies," Philippe Gijsels,
head of research at BNP Paribas Fortis Global Markets, said.
On the positive side, BT rose 3 percent after
returning to quarterly revenue growth for the first time since