European shares fell in early
deals on Wednesday after a slew of weak updates weighed on
British firms Travis Perkins and Reckitt Benckiser
, while Akzo Nobel's results were hit by a weak
The pan-European STOXX 600 index fell 0.4 percent,
following a 1.5 percent rise in the previous session.
Building materials supplier Travis Perkins dropped nearly 6
percent and was on track for its biggest daily loss since June
after the firm warned on its 2016 profit, blaming a
disappointing performance in its plumbing and heating business.
The company also said that it would close more than 30
Consumer goods maker Reckitt Benckiser also fell, down
nearly 3 percent after reporting a bigger than expected slowdown
in underlying third-quarter sales growth.
Price pressures and a drop in the value of sterling hit
Dutch coatings and paints maker Akzo Nobel, which retreated 2.5
percent after reporting a slide in quarterly sales.
However, among the risers, Sweden's Intrum Justitia
jumped more than 6 percent after a well-received set of results.