European shares decline as oil prices fall back
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* FTSEurofirst 300 index falls 0.3 percent
* Cheaper oil pulls down market
* ARM Holdings gains after results
* Volkswagen leads FTSEurofirst gainers
By Danilo Masoni and Atul Prakash
MILAN/LONDON, April 20 (Reuters) - European shares retreated from three-month highs on Wednesday as oil prices fell, but the losses were limited by some solid earning updates, including those of UK chip maker ARM.
The pan-European FTSEurofirst 300 index was down 0.3 percent by 0952 GMT after rising 1.5 percent the day before, when it reached its highest since early January.
Crude oil prices fell on Wednesday after Kuwaiti oil workers ended a three-day strike that had cut the nation's crude output by around half. Sharp losses on Chinese markets also led to some profit-taking after the recent gains. Continuación...