Cyclicals Boost European Shares While Dixons Carphone Plummets

www.oann.com | 8/16/2017 | Staff
kringkring (Posted by) Level 4
LONDON (Reuters) – Gains by cyclical sectors helped push European stocks higher on Thursday, while heavy losses from Dixons Carphone after a profit warning dominated early trading.

The pan-European STOXX 600 gained 0.3 percent, in line with euro zone stocks and blue-chips .

Dixons - Carphone - Shares - Percent - Phone

Dixons Carphone shares plummeted up to 29 percent after the mobile phone retailer downgraded expectations for full-year profit, reflecting tougher conditions in the mobile market as customers hold on to handsets for longer.

Dixons Carphone was the worst-performing among European retail stocks so far this year, even before today’s decline wiped a third off its market value.

Results - Quarter - Investors - Companies - Earnings

Results this quarter have seen investors punish companies that missed earnings expectations particularly harshly, analysts said.

Cementing index gains, the world’s third-biggest materials...
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