European shares pegged back as China, Ukraine concerns mount

miércoles 12 de marzo de 2014 07:40 GYT
 

* FTSEurofirst 300 falls 1.3 percent

* Risk of pick-up in China defaults could slow growth

* Russia-exposed stocks hit again as sanctions talk builds

* Tod's weighs on luxury sector after earnings

By Alistair Smout

LONDON, March 12 (Reuters) - European shares fell on Wednesday, with cyclical stocks retreating on concerns over Chinese growth, persistent tensions in Ukraine and below-forecast earnings reports.

Miners, carmakers and luxury stocks, which are sensitive to global growth trends, came under the most pressure as the pan-European FTSEurofirst 300 fell 1.3 percent to 1,304.34 points.

The basic resources sector dropped 1.8 percent after Shanghai copper fell by its 5 percent daily limit on concerns over credit markets in China, the world's biggest metals consumer.

London copper hit a 44-month low on growing concerns over credit-linked defaults in China, where copper is often put up as collateral for lending.   Continuación...