European shares retreat, focus on Fed meeting

lunes 14 de septiembre de 2015 10:26 GYT

* FTSEurofirst 300 falls 0.5 percent

* Caution before Fed meeting this week

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By Atul Prakash and Alistair Smout

LONDON, Sept 14 (Reuters) - European equities fell in late trading on Monday, led lower by weaker mining stocks, with investors growing jittery ahead of the Federal Reserve's policy meeting later this week.

A Reuters poll showed on Friday a small majority of forecasters still expect a Fed hike on Thursday, though markets-based models suggest concerns about global market volatility and economic growth will delay monetary policy tightening.

"The wider picture is one where people don't have too much conviction about the market's direction," IG analyst Joshua Mahony, said.

"Going into Thursday, quite a few people are worrying that we are potentially going to see a move lower because even if we see the Fed holding rates, that is not going to be enough to make people start feeling really bullish as they know that it's just around the corner."

Mining shares came under pressure after prices of key industrial metals fell sharply. Copper was down 1.2 percent, alongside Chinese equities, after data showed a lower-than-expected rise in China's factory output, reinforcing worries about demand for the metal.   Continuación...