Europe Shares Turn Lower, Investors Digest Earnings
World Economy

Europe Shares Turn Lower, Investors Digest Earnings

European shares turned lower in morning trade on Wednesday, as investors digested a slew of earnings from European companies.
The pan-European Euro Stoxx 600 Index was higher after markets opened Wednesday but had fallen into negative territory by mid-morning, with most sectors in the red, CNBC reported.
Outperformers included Volvo. The Swedish carmaker rose up to 13 percent after posting a forecast-beating quarterly profit and naming a new CEO.
Meanwhile, Tesco shares climbed 3.6 percent in early deals but had retreated by mid-morning to trade up 0.3 percent as investors digested the news that the UK supermarket chain posted a full-year pre-tax loss of £6.38 billion ($9.5 billion) on Wednesday.
Shares of Heineken rose over 1 percent after the brewer reported a sharp rise in net profit in the first quarter of 579 million euros ($623.6m), up from 143 million euros in the same period a year earlier.
Elsewhere, Greece remains in focus on Wednesday. Greek Finance Minister Yanis Varoufakis said on Tuesday that he was confident Greece would reach a deal with its international lenders although this may not happen in the upcoming meeting of eurozone finance ministers on April 24, he told reporters in Athens, Reuters said Tuesday.

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