European shares fall as Japan slips into recession

lunes 17 de noviembre de 2014 08:06 GYT
 

* FTSEurofirst 300 down 0.3 percent

* Nikkei sees worst slump in three months

* H&M boosted by forecast-beating sales

* Weir hit by renewed slump in crude (Adds quote, details)

By Alistair Smout

EDINBURGH, Nov 17 (Reuters) - European shares dropped on Monday, hit by concern over the pace of global growth after data showed Japan, the world's third-largest economy, unexpectedly slipped into recession.

The FTSEurofirst 300 index of top European shares was down 0.3 percent at 1,341.10 points.

Japan's economy shrank an annualised 1.6 percent in July-September, following a 7.3 percent drop in the second quarter that was hurt by a sales tax hike hitting consumer spending.

Analysts polled by Reuters had expected 2.1 percent growth in the third quarter. But consumption and exports remained weak, saddling companies with huge inventories.   Continuación...