STOCKS NEWS EUROPE-Deutsche Post drops as earnings miss the mark
Shares in Deutsche Post (Other OTC: DPSGY - news) fall 2.8 percent, the biggest decliner on Germany's blue-chip index, as analysts point to disappointing growth rates in the first quarter.
"Sales and EBIT figures came in somewhat below our and market expectations," DZ Bank AG analyst Dirk Schlamp says.
Equinet analyst Jochen Rothenbacher writes in a research note that the disappointment is mainly driven by the weakness of Deutsche Post's global forwarding and freight businesses.
The world's No. 1 postal and logistics group unveiled a lower-than-expected increase in first-quarter operating profit on Thursday, with higher deliveries in its international express courier business failing to offset negative impact from weak currencies in emerging markets.
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