European shares fall after Italy downgrade, soft Asia data

lunes 8 de diciembre de 2014 13:38 GYT
 

* FTSEurofirst 300 down 0.7 pct, trims Friday's gains

* Italy's credit downgrade weighs on sentiment

* Energy shares drop again as Brent slips below $67 (Adds closing prices)

By Alistair Smout and Sam Wilkin

LONDON, Dec 8 (Reuters) - European shares fell on Monday, trimming some of the previous session's sharp gains after Italy's sovereign debt rating was cut late on Friday and following soft economic data from China and Japan.

At the close the FTSEurofirst 300 index of top European shares was down 0.7 percent at 1,395.44 points, having surged 1.8 percent on Friday after much better-than-expected U.S. jobs data.

Data from elsewhere was less encouraging. China's exports rose 4.7 percent in November from a year earlier, while imports dropped 6.7 percent, well below expectations and adding to concerns that the world's second-largest economy could be facing a sharper slowdown.

Japan's economy shrank more than initially reported in the third quarter on declines in business investment.

Energy shares fell again as Brent dropped by more than $2 a barrel after Morgan Stanley cut its forecast for crude and the market received little support from China's trade data.   Continuación...