UPDATE 1-European shares recover as earnings dominate, Lufthansa disappoints

according to Deutsche Bank shares are drop further than 27 % year-to-date, the worst-performing of the Eu banks sector . Among notable gainers, Finnish oil refining company Neste topped the STOXX, jumping twelve % after reporting first-quarter discounds which comfortably topped analysts' estimates. Industrials were powerful overall, with French engine producer Safran hight after results, however Lufthansa weighed drop the sector with a 6.1 % fall. Shares in Philips Lighting, the world's largest lighting maker, fell eleven % after the company announced reduce than foreseen first-quarter earnings because of falling discounds & margins. Volkswagen gained 2.8 % to lead the DAX, boosted too with first-quarter results & optimism over its fresh CEO.

European shares recover as earnings dominate, Lufthansa disappoints

Deutsche Bank shares are drop further than 27 % year-to-date, the worst-performing of the Eu banks sector .SX7P. Among notable gainers, Finnish oil refining company Neste (NESTE.HE) topped the STOXX, jumping twelve % after reporting first-quarter discounds which comfortably topped analysts' estimates. German forklift producer Kion blamed a slowing in the market for weaker than foreseen first-quarter order intake. Shares in Philips Lighting (LIGHT.AS), the world's largest lighting maker, fell eleven % after the company announced reduce than foreseen first-quarter earnings because of falling discounds & margins. Volkswagen (VOWG_p.DE) gained 2.8 % to lead the DAX, boosted too with first-quarter results & optimism over its fresh CEO.

European shares recover as earnings dominate, Lufthansa disappoints

As it stated in Bank earnings were a key focus. Deutsche Bank shares are drop further than 27 percentyear-to-date, the worst-performing of the Eu banks sector .SX7P . urn:newsml:reuters.com:*:nL8N1S318WInvestors are watching the Eu earnings season keenlyfor any Symptoms of strain from slowing economic development afterrecent business activity & user confidence measuresfaltered. The euro region STOXX .STOXXE saw the biggest downwardrevisions to earnings estimates ever July 2016 this week. urn:newsml:reuters.com:*:nFWN1S21IOShares in Philips LightingLIGHT.AS , the world's largestlighting maker, fell eleven % after the company announced lowerthan foreseen first-quarter earnings because of falling discounds andmargins.

collected by :Ros Roger