European shares retreat from highs on disappointing data
* FTSEurofirst 300 index falls 0.72 percent
* Euro zone manufacturing survey hurts sentiment
* Snam leads European utilities index lower
By Atul Prakash
LONDON, Nov 3 (Reuters) - European shares fell from a four-week high on Monday, with disappointing data from Europe and the United States hurting sentiment and gas transport group Snam leading the utilities sector down following a regulatory setback.
The European utilities index fell 2.3 percent, the top sectoral decliner, on a 10 percent drop in Snam after a regulator ruling that cut the remuneration rate for the gas storage business in 2015. Enel and Terna fell 4.4 percent and 6.6 percent respectively.
At 1600 GMT, the FTSEurofirst 300 index of top European shares was down 0.72 percent at 1,342.28 points after rising to as much as 1,355.16, the highest since early October. The index climbed 1.8 percent on Friday after the Bank of Japan surprised global markets by ramping up its stimulus spending.
European shares extended losses in late trading despite the ISM's data showing U.S. manufacturing expanded far more briskly than estimated, with investors instead focusing on Markit figures showing the manufacturing sector slowed in October and the Commerce Department's construction spending numbers that fell for a second straight month in September.
U.S. economic numbers added to investors' jitters after a business survey showed manufacturing activity in the euro zone grew slightly more slowly than thought last month. Continuación...