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* London shares of Shell hit 2-1/2 year low
* Energy index hit by Shell results, weak oil prices
* H&M, Wartsila rise after quarterly results
(Adds details, quote; updates prices)
By Medha Singh
Jan 30 (Reuters) - European shares fell for the first time
in three sessions on Thursday on a slate of disappointing
earnings updates, with investors also fretting over the economic
impact of a virus epidemic in China that has now claimed 170
lives.
The pan-European STOXX 600 fell 0.8% and was on
track to log its worst week in nearly four months.
London-listed shares of Royal Dutch Shell were the
biggest drag on the benchmark index, shedding 4.3% after the
company's quarterly profit halved. The wider energy subsector
fell 2.4%, also pressured by lower oil prices.
Global financial markets have seen a sharp sell-off this
week as a jump in reported cases of people infected with the
flu-like coronavirus raised fears of a pandemic and sparked
concerns about an economic slowdown in the world's
second-biggest economy.
The World Health Organization's Emergency Committee is due
to reconvene on Thursday to decide whether the virus constitutes
a global emergency.
"At this stage as the number of cases are growing, (the
selloff) is just a normal reaction in (anticipation) for what
could be the final impact," said Gilles Guibout, head of
European equities strategies at AXA Investment Managers.
"Could the coronavirus be a black swan? Yes, maybe for the
(companies) most exposed to the China segment."
European miners slid 0.7% on Thursday on growth
concerns in the world's top metals consumer.
Losses in flight operators such as British Airways,
Germany's Lufthansa and Air France dragged
the travel and leisure sector down 0.8% as airlines
increasingly suspended or scaled back flights to China.
Shares of watchmaker Swatch Group slipped 4.7% as it
reported a marked drop in annual sales and forecast continuing
challenges in its key Hong Kong market this year.
Other luxury brands - LVMH, Hermes,
Gucci owner Kering, Moncler, Burberry
- also slipped between 0.8% to 1.8%.
German-Spanish turbine manufacturer Siemens Gamesa
tumbled 7.8% and was on course for its worst day in
six months after cutting its 2020 profitability target for a
second time in three months.
On a bright note, Sweden's H&M climbed 9.5% after
delivering its first increase in annual profit since 2015, while
Finnish engineering group Wartsila jumped 6.4% as it
raised its quarterly demand outlook.
Investor attention now shifts to the Bank of England's
interest rate decision due later in the day, with expectations
of the first rate cut in more than three years standing at
nearly 50%.
(Reporting by Medha Singh in Bengaluru; Editing by Bernard Orr)
