European shares fall for the fourth session in a row with the decline of Leonardo 20%
European shares fell on Friday morning, extending losses for a fourth consecutive session, with Leonardo dropping 20% after Italy's company slashed earnings forecasts in 2017. Yesterday's shares suffered the biggest daily loss in five months on disappointing business results.
The Dow Jones Stoxx
Europe 600 shed 0.2% by 11:05 GMT, and the index ended yesterday's session down 1.1%, its third daily loss in a row, the biggest daily loss since last June, with a decline in sentiment after a series of results The business is disappointing.Leonardo shares fell 20% to become the biggest losers on the Stoxx Europe 600 index after Italy's aerospace and defense company reduced earnings forecasts for 2017, as well as the difficult environment for helicopter business.Burberry fell 4% after Britain's luxury goods company warned of sales over the next two years. The company posted lower-than-estimated results in the first half of this year, so major financial institutions lowered its target price.The Euro Coke 50 index fell more than 0.2%. In France, the CAC 40 index shed 0.3%. In London, the FTSE 100 lost 0.2%. In Germany, the DAX fell 0.1%.The S & P 500 futures contract fell 0.3%, and the index ended yesterday's session down 0.4%, as concerns over postponement of tax reforms in the United States to 2019 escalated.