May 21, 2013
European shares fall for 3rd day, Carlsberg leads market lower
European shares dipped for a third straight session today, led by Danish brewer Carlsberg after disappointing earnings, and some analysts expected further weakness in the market in the near term.
The world's fourth-biggest brewer posted a weaker-than-expected quarterly profit as sales stalled in key market Russia and remained sluggish in western Europe, sending its shares tumbling 5.8 percent.
Trading volume in Carlsberg was robust, at almost five times its 90-day daily average.
The FTSEurofirst 300 closed down 0.2 percent at 1,159.29, after a lacklustre session with Wall Street closed for President's Day and retreating further from a two-year closing peak of 1,177.79 scaled at the end of January.
Japan's Nikkei share average jumped 2.1 percent, led by banks and exporters as the yen softened after Japan escaped direct criticism of its aggressive monetary easing at the weekend's G20 meeting.
The Nikkei added 234.04 points to 11,407.87, close to the 4-year high of 11,498.42 it struck on Feb. 6.