Maersk Shares Slide on Lower Earnings Outlook

Shares in A.P. Moller-Maersk MAERSK.B 1.14%increase; green up pointing triangle fell Thursday as the Danish shipping giant said earnings will drop sharply this year while it announced around 1,000 job cuts as part of plans to save around $180 million annually.

Shares fell over 8% at the European open before paring some losses to trade 5% lower.