Spain, Italy lead skittish European shares lower

jueves 10 de abril de 2014 12:28 GYT
 

(Updates prices at settle)

* FTSEurofirst 300 down 0.5 pct, Euro STOXX 50 down 0.9 pct

* Spain, Italy lead losses on weak data, Iberdrola placing

* LVMH leads rally in luxury stocks after update

By Francesco Canepa

LONDON, April 10 (Reuters) - Spanish and Italian indexes led European shares lower on Thursday as investors cashed in on the star performers this year after some disappointing data and more jittery market conditions.

Spain's Ibex 35 and Italy's FTSE MIB, the best performers among major European indexes this year, fell 1.4 percent and 1.3 percent respectively, lagging smaller losses for their peers in Britain, Germany and France .

Sentiment on Italy was clouded by weaker-than-expected industrial output data, while a discounted placement in Iberdrola shares triggered a sell-off in Spanish utilities.

Spanish and Italian shares have rallied more than 25 percent since June 2013, leaving them trading at the highest valuation versus pan-European stocks since 2006, Datastream data showed.   Continuación...