European earnings failed to drive broader European markets higher, as disappointing numbers from bigger names and cautious guidance mostly pushed shares in reporting companies lower.
Deutsche Telekom reported 2007 operating earnings in line with both its targets and market expectations, which were down slightly due to restructuring costs.
The German company reiterated its 2008 outlook of flat earnings before certain items and a flat free cash flow. Shares were down 0.3 percent on the mixed news.
Shares in German pharmaceutical and chemical company Bayer were down 2.8 percent after it missed market expectations with a 79 percent fall in fourth-quarter net profit due to charges for the integration of Schering.