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European Shares Slide On Earnings Anxiety


European stocks fell in cautious trade on Thursday as investors fretted about the outlook for corporate earnings in a slowing growth environment.

Meanwhile, on a light day on the economic front, a government report showed that U.K. retail sales recovered unexpectedly in June.

Retail sales volume increased 1 percent month-on-month in June largely driven by non-food product sales. Sales were forecast to fall 0.3 percent after easing 0.6 percent in May.

The pan European Stoxx 600 was down 0.4 percent at 386.23 after declining 0.4 percent in the previous session.

The German DAX was losing 0.9 percent, France's CAC 40 index was declining half a percent and the U.K.'s FTSE 100 was down 0.4 percent.

Industrial firm Indutrade AB slumped 12.4 percent after unveiling its second-quarter results.

Swedish home appliances giant Electrolux advanced 1.8 percent after posting
in-line second-quarter net profit.

Swiss drug major Novartis jumped 4.7 percent after raising its FY19 outlook.

Givaudan, a Swiss manufacturer of fragrance and flavor products, tumbled 3.9 percent after reporting lower margins from recently acquired Naturex.

Volvo Group shares fell over 2 percent after the company said market conditions will put continued pressure on its margins.

Shares of ASOS slumped 15 percent in London after the online fashion retailer trimmed its fiscal 2019 profit view, citing problems with the rollout of its new automated warehouses.

Low-cost airline easyJet jumped 3 percent after its third-quarter total revenue increased 11.4 percent from the year-ago period to 1.76 billion pounds.

German business software maker SAP plummeted 6.2 percent. After reporting a 21 percent decline in second-quarter operating profit, the company said it doesn't expect a major improvement in margins before next year.

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