By Agamoni Ghosh and Lisa Pauline Mattackal
(Reuters) – European shares fell for the first time this week on Friday, as a 10% slide in shares of brewing giant Anheuser-Busch InBev sent a shiver through investors worried about the outlook for growth and the prospect of months more wrangling over Brexit.
The pan-European STOXX 600 <.STOXX> dipped 0.2%, but was still on track to end a busy week of corporate earnings higher after a handful of industry heavyweights topped low market expectations.
The food and beverage sector <.SX3P> led losses on Friday, however, after Anheuser-Busch InBev
Shares of German telecoms operator 1&1 Drillisch
“Today’s moves seem to have trimmed some of the progress we have seen on the week,” said Ken Odeluga, an analyst with City Index in London.
“You have a mechanical effect from that 10% decline in AB InBev but you can’t really generalize. We may not see a stellar earnings season but with expectations so low there will be more beats for sure.”
On the bright side, France’s CAC 40 <.FCHI> outperformed as Gucci owner Kering
Limiting those gains was a 20% fall in shares of entertainment company Ubisoft
Among banks, Spain’s Banco Sabadell
London’s FTSE 100 <.FTSE>, Dublin stocks <.ISEQ> and the pound
British housebuilders <.FTNMX3720>, which are considered among sectors most exposed to the domestic economy, dipped 0.3%in their fifth straight session of losses.
Investors now await the European Union’s response to a British request to delay Brexit again and a summit in Chile where U.S. President Donald Trump hopes to finalise a partial trade deal with his Chinese counterpart Xi Jinping.
(Reporting by Lisa Pauline Mattackal and Agamoni Ghosh; Editing by Shounak Dasgupta and Patrick Graham)