European shares fall on China growth jitters

lunes 22 de septiembre de 2014 10:42 GYT

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

* Stocks trim losses after Draghi says ready to use more tools

* Air France sinks as union rejects proposal to end strike

By Blaise Robinson and Atul Prakash

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

Shares in Air France-KLM sank 4 percent after the main French pilots union rejected a management proposal for ending a week-old Air France strike. The company said the strike was costing it as much as 20 million euros ($25.7 million) a day.

UK supermarket chain Tesco also featured among Europe's top losers, sinking 10.2 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 2.3 percent and Morrisons down 2.1 percent.

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