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European shares held below eight-week highs
July 25, 2013 / 7:11 AM / 4 years ago

European shares held below eight-week highs

PARIS, July 25 (Reuters) - European shares were steady in early trade on Thursday, holding below eight-week highs hit in the previous session, as a batch of mixed results from blue chips such as Unilever prompted investors to book some profits.

At 0708 GMT, the FTSEurofirst 300 index of top European shares was flat at 1,214.92 points.

Shares in Unilever fell 1 percent after the consumer goods giant reported lower-than-expected quarterly sales and warned that growth was slowing in emerging markets.

BASF was down 3.2 percent after the world’s largest chemicals company by sales called its 2013 profit target into question.

“Overall, the earnings season isn’t too bad, but there’s a lot of nervousness on the market after the 10 percent rally we’ve just got, with very few buyers left,” said Guillaume Dumans, co-ahead of 2Bremans.

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