Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
  1. Homepage
  2. Equities
  3. United Kingdom
  4. London Stock Exchange
  5. Carillion plc
  6. News
  7. Summary
    CLLN   GB0007365546


SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Warnings, downgrades weigh as European shares post another weekly fall

11/17/2017 | 12:04pm EDT
The German share price index, DAX board, is seen at the stock exchange in Frankfurt

MILAN (Reuters) - Disappointing earnings updates and a series of broker downgrades weighed on European shares on Friday, with regional indexes posting their second weekly fall in a row.

Investors have been locking in profits, shrugging off continued strength in economic data as euro zone earnings growth slowed compared to the previous quarters and caution rose over whether a stock market rally could continue.

On Friday, Elior (>> Elior) slumped more than 18 percent after Europe's third-largest catering group cut its profit guidance, citing the impact of Hurricane Irma.

Shares in Fresenius SE (>> Fresenius), Greene King (>> Greene King), Just Eat (>> Just Eat), United Utilities (>> United Utilities) and H&M (>> Hennes & Mauritz) all fell more than 2 percent after ratings downgrades from brokers.

The STOXX 600 <.STOXX> was down 0.3 percent at its close, taking losses so far this week to 1.3 percent, its second negative week in a row. The pan-European benchmark index is still up more than 6 percent so far this year.

"The big question remains as to whether this is merely a pause in the context of a wider correction or whether we’ll see a resumption of the uptrend that has been in place since the beginning of 2016," said CMC Markets analyst Michael Hewson.

A speech from ECB President Mario Draghi in Frankfurt had little impact on stocks, even though traders said his tone was relatively upbeat on the economy.

Among gainers, Vivendi (>> Vivendi) rose 4.4 percent, reversing earlier weakness as investors digested an earnings update from the acquisitive French media conglomerate.

Vivendi missed analysts' third-quarter estimates but kept its 2017 growth targets for revenue and EBITA. It also ruled out a hostile takeover of Ubisoft (>> Ubisoft Entertainment) for the next six months.

UBS affirmed its buy rating, saying the confirmed guidance suggested that a sales slowdown at Vivendi's Universal Music Group unit could reverse in the fourth quarter, while it expected Vivendi's Canal+ business to help grow earnings in the short term.

Outside the STOXX, Carillion (>> Carillion) fell more than 48 percent after the UK builder said it would breach its financial covenant and warned on profits for the third time this year.

"Some investors might think this is the end but Carillion is too big to fail. Government intervention is possible but this is a nightmare for ministers at such a sensitive moment for the economy," said ETX Capital analyst Neil Wilson.

Sky (>> Sky) rose more than 4 percent. Reuters reported that Comcast (>> Comcast Corporation) and Verizon (>> Verizon Communications) had both expressed interest in acquiring a significant part of the assets of Rupert Murdoch's Twenty-First Century Fox's (>> Twenty-First Century Fox), including the European pay TV provider.

European Indexes YTD Performance - http://reut.rs/2A6OjSP

(Reporting by Danilo Masoni and Kit Rees; Editing by Peter Graff)

By Danilo Masoni

ę Reuters 2017
Stocks mentioned in the article
ChangeLast1st jan.
CARILLION PLC 0.00% 14.2 Delayed Quote.0.00%
COMCAST CORPORATION 0.03% 58.38 Delayed Quote.11.37%
E.ON SE -0.06% 10.36 Delayed Quote.14.36%
ELIOR GROUP 2.48% 5.775 Real-time Quote.2.08%
FOX CORPORATION 1.02% 36.58 Delayed Quote.24.28%
FRESENIUS SE & CO. KGAA -0.47% 45.56 Delayed Quote.20.97%
HENNES & MAURITZ AB 0.14% 187.7 Delayed Quote.9.00%
INDITEX 0.21% 28.9 Delayed Quote.10.75%
JUST EAT PLC 0.00%End-of-day quote.3.14%
JUST GROUP PLC 0.26% 97.25 Delayed Quote.38.77%
SKY 0.00%End-of-day quote.70.70%
STOXX EUROPE 600 -0.05% 461.2 Delayed Quote.15.66%
UBISOFT ENTERTAINMENT -2.17% 55.12 Real-time Quote.-28.56%
UNITED UTILITIES GROUP PLC -0.38% 1048 Delayed Quote.17.54%
VERIZON COMMUNICATIONS -0.44% 55.64 Delayed Quote.-4.89%
VIVENDI SE -0.35% 28.37 Real-time Quote.7.88%
All news about CARILLION PLC
05/19Litigation Capital Management Limited Enters into New Litigation Finance Agre..
04/21KIER : British contractor Kier plans to raise up to $334 mln
01/14CARILLION : directors' disqualification proceedings
2020CARILLION : UK watchdog finds apparent breaches by KPMG's Carillion audit
2020CARILLION : Investigation into the rescue of Carillion's PFI hospital contracts
2020CARILLION : Outcome of UK probe into Carillion audit delayed until summer
2019CARILLION : KPMG fined over defective audit of Co-op Bank, faces extra checks on..
2019CARILLION : UK lawmakers want Big Four accounting firms broken up
2019Kier names former Carillion CEO-designate to top job
2019Carillion's collapse helps send more contracts Balfour Beatty's way
More news
Duration : Period :
Carillion plc Technical Analysis Chart | CLLN | GB0007365546 | MarketScreener
Managers and Directors
Andrew Peter Davies Chief Executive Officer
Andy Jones Chief Operating Officer
Kellie McAvoy Head-Investor Relations
John Denning Director-Group Corporate Affairs
Lee Watson Chief Transformation Officer
Sector and Competitors