European shares edge lower, weighed down by China concerns

lunes 10 de agosto de 2015 04:40 GYT
 

* FTSEurofirst down 0.6 pct

* Euro STOXX 50 down 0.3 pct

* BHP Billiton down 2.5 pct after job cut

By Liisa Tuhkanen

LONDON, Aug 10 (Reuters) - European shares edged lower on Monday as disappointing economic data out of China and falls in mining companies BHP Billiton and Anglo American weighed on the market.

The euro zone's blue-chip Euro STOXX 50 index was down 0.3 percent by 0815 GMT, while the pan-European FTSEurofirst 300 index edged 0.6 percent lower to 1,564.94 points. Both ended last week on a downbeat note, closing down 0.8 and 0.9 percent respectively.

"There is softness on the market on concerns over the Chinese economy," said Brenda Kelly, analyst at London Capital Group.

China is under growing pressure to further stimulate its economy after data over the weekend showed another heavy fall in factory-gate prices and a surprise slump in exports.

The world's second-largest economy is officially targeted to grow at 7 percent this year, still strong by global standards, but some economists believe it is expanding at a much slower pace.   Continuación...