Markets

European shares fall in early trading, Commerzbank leads lower

Published April 28, 2015 Updated April 28, 2015 08:56am

1 min

By Parvez Jabri

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LONDON: European shares fell on Tuesday, with Commerzbank dropping after announcing plans to raise 1.4 billion euros ($1.52 billion) and Swiss sanitary equipment maker Geberit slipping following poor results.

The FTSEurofirst 300 index of top European shares was down 0.5 percent at 1,634.21 points by 0711 GMT after gaining about 1 percent in the previous session.

Shares in Commerzbank fell 5 percent, the top decliner in the FTSEurofirst 300 index, as Germany's second-largest bank on Monday launched a share sale to raise capital from institutional investors to help to bolster its capital strength.

Geberit shares fell 4.4 percent after the company reported a 15 percent fall in first-quarter net profit due to costs relating to its acquisition last year of Nordics ceramic maker Sanitec and a surge in the Swiss franc.

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