Weaker Chinese data weighs on European shares, SABMiller rises

lunes 15 de septiembre de 2014 04:28 GYT
 

* FTSEurofirst 300 index falls 0.3 percent

* Chinese data send energy company shares down

* SABMiller, Heineken advance on M&A news

By Atul Prakash

LONDON, Sept 15 (Reuters) - European equities fell on Monday, led lower by shares in commodity companies, after disappointing macroeconomic data from China intensified concerns about the pace of economic growth in the world's No. 2 economy.

Weekend data showed China's factory output grew at the weakest pace in nearly six years in August while growth in other major sectors also fell, increasing fears that China may be at risk of a sharp slowdown unless Beijing takes new stimulus measures.

The FTSEurofirst 300 index of top shares fell for a third straight session and was down 0.3 percent at 1,378.79 points by 0759 GMT.

The STOXX Europe 600 Oil and Gas index dropped 1.2 percent, the biggest sectoral faller in Europe, and the basic resources index slipped 0.4 percent, tracking crude oil and copper prices, which fell to their lowest level in about two years and three weeks respectively.

"A lot of oil inventories and little demand for the commodity indicate the global economy is not growing as strongly as hoped for, and this would fit with other indicators like copper prices have also fallen back and leading indicators from Europe have been on the weaker side," Baader Bank's head of equity strategy in Munich, Gerhard Schwarz, said.   Continuación...