European shares slip from highs, automakers weigh

martes 17 de marzo de 2015 13:35 GYT
 

* FTSEurofirst 300 ends down 0.7 pct after 7-1/2 yr high

* Peugeot falls as car sales growth lower than sector

* DAX underperforms as ZEW survey lower than expected

By Atul Prakash

LONDON, March 17 (Reuters) - European shares retreated from a 7-1/2-year high on Tuesday, with PSA Peugeot Citroen leading automakers lower after the release of car sales data and a disappointing German economic sentiment survey.

Germany's DAX, down 1.5 percent, underperformed the market after hitting a new record high on Monday. The pan-European FTSEurofirst 300 index ended 0.7 percent lower at 1,583.85 points, after setting a multi-year high of 1,598.03.

The STOXX Europe Automobiles and Parts index fell 2.5 percent, hit by a 5.9 percent fall in Peugeot after the automaker's vehicle sales rose less than the sector in February.

"The new car sales from Peugeot are disappointing. Peugeot underperformed the European auto market in February with an increase limited at 1.1 percent," a Paris-based trader said.

Data from the Association of European Carmakers (ACEA) showed new car registrations in Europe rose 7 percent in the month of February, fuelled by double-digit sales growth in Italy and Spain.   Continuación...