European shares fall after mixed PMI data

jueves 21 de mayo de 2015 04:32 GYT

* FTSEurofirst 300 down 0.4 percent, Germany underperforms

* Mining stocks buoyed as stimulus hopes lift metals prices

* Tesco gains on report of South Korean unit sale

* Raiffeisen falls after results

* German-listed Joyou slumps more than 80 percent

By Lionel Laurent

LONDON, May 21 (Reuters) - European shares fell on Thursday after data pointed to a mixed picture for the euro zone's economic recovery, with German private-sector growth slowing again in May even as France extended its timid recovery.

The pan-European FTSEurofirst 300 index was down 0.4 percent at 0751 GMT, with blue-chip German stocks underperforming the region after Markit's flash composite Purchasing Managers' Index (PMI) for Europe's largest economy showed a drop in May, though it rose in France.

Signs that the positive effects of the European Central Bank's bond-buying programme, such as a weakening of the euro, may have started to peter out in the second quarter have pushed some investors to trim their exposure to European stocks, though they still remain near multi-year peaks.   Continuación...