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Shell down 4% after warning of slowing global economy

October 31, 20195:56 AM Reuters0 Comments

** Oil major Shell slumps nearly 4% to 22.4 pounds as a profit beat was dampened by co flagging global economic slowdown

** Q3 profit of $4.8 bln topped estimates of $3.91 bln

** "Weak macroeconomic conditions" and "challenging outlook" create uncertainty about co's buyback time frame – CEO Ben van Beurden says

** If losses hold, Shell to turn negative for the year vs. the FTSE 100's +8% YTD

** By 1110 GMT, Shell shares made up for nearly half of the FTSE 100's fall

** Shell results come just days after BP disappointed markets with a profit plunge amid weak oil prices

** BP shares also down 1.4% on the day

(Reporting by Safia Infant)

Royal Dutch Shell

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