European shares edge lower after German data miss

lunes 7 de julio de 2014 04:08 GYT
 

* FTSEurofirst 300 down 0.1 pct, Euro STOXX 50 down 0.2 pct

* German industrial data confounds steady expectations

* Total, Sanofi fall after cautioning over results

* M&A provides support to market

By Alistair Smout

EDINBURGH, July 7 (Reuters) - European shares fell on Monday after weak data out of Germany took the wind out of a rally that saw a top index post its best week in over three months.

German industrial output fell 1.8 percent on the month in May, its biggest drop in more than 2 years, confounding expectations of unchanged industrial output in Europe's powerhouse.

"It's just more evidence that overall economic growth has slowed down in the second quarter from the strong first quarter," Ioan Smith, director at KCG, said.

The pan-European FTSEurofirst 300 rose 1.7 percent last week, its biggest rise in more than three months, boosted by robust growth in U.S. employment and further signs of support from the European Central Bank.   Continuación...