European shares dip on China growth jitters

lunes 22 de septiembre de 2014 07:23 GYT

* FTSEurofirst 300 down 0.3 pct, retreats from near 7-yr high

* Miners hurt by worries over China's economic growth

* Tesco tumbles after fresh warning

By Blaise Robinson and Atul Prakash

PARIS/LONDON, Sept 22 (Reuters) - European shares fell on Monday, with a benchmark retreating from a near seven-year high touched in the previous session, as concerns over the pace of growth in China knocked lower mining heavyweights such as Rio Tinto and BHP Billiton.

Shares in UK supermarket chain Tesco were also among the biggest losers, sinking 7.3 percent after the group slashed its earnings forecast - its third warning this year - after finding a fault in its accounts.

Shares in Tesco's rivals also took a beating, with J. Sainsbury down 2.5 percent and Morrisons down 2 percent.

"Tesco has dealt investors a severe blow to confidence, with fellow food retailers also suffering," Keith Bowman, equity analyst at Hargreaves Lansdown, said.

"Concerns regarding China, comments from the Finance Minister and whether additional economic stimulus will be applied also appears to be hitting investor sentiment."   Continuación...