(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
Feb 10 (Reuters) - European shares retreated on Friday
and were poised to snap a three-day winning streak as traders
gauged the prospects of a prolonged global monetary policy
tightening, while German footwear maker Adidas' dour forecast
also dampened sentiment.
The pan-European STOXX 600 was down 0.6% by 0815
GMT, after touching a near one-year high on Thursday as a slew
of upbeat corporate earnings gave a fillip to risk-on sentiment.
Retail and basic resources , down around 1%
each, were the worst performers among sector indexes.
Swedish defence equipment maker Saab jumped 8.8%
to top the STOXX 600 index on higher fourth-quarter operating
profit. Aiding sentiment, the company also forecast its organic
sales growing 15% in 2023 and operating income rising faster
than revenue.
Shares of Adidas dropped 9.4% and were on track
for their steepest one-day fall in 11 months on expectations of
a high single-digit decline in 2023 sales, also pulling down
peer PUMA SE by 2%.
Britain's Standard Chartered slid 5.7% and was on
track for its steepest one-day fall in six months after First
Abu Dhabi Bank , the United Arab Emirates' biggest
lender, said it was not currently evaluating a buyout offer.
(Reporting by Ankika Biswas in Bengaluru; Editing by Sherry
Jacob-Phillips)
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