European shares dip below multi-year high, Hermes slips

miércoles 25 de marzo de 2015 05:18 GYT
 

* FTSEurofirst 300 hovers below 7-1/2 year high

* Steel producers rally after EU says to impose duties

By Blaise Robinson

PARIS, March 25 (Reuters) - European shares dipped on Wednesday, retreating further from 7-1/2-year highs hit last week, with Hermes falling after posting disappointing results.

Shares in the French luxury goods maker fell 1.9 percent after the group said foreign exchange rates had dragged its margins lower. Hermes has a strong exposure to Japan.

Shares in Acerinox, Outokumpu and Aperam surged between about 3.6 percent and 7.5 percent after Europe said it will impose punitive anti-dumping duties on stainless steel cold-rolled sheet from China and Taiwan.

The EU will apply tariffs of about 24-25 percent for imports from China and of about 11-12 percent for Taiwanese product, following a complaint lodged in May 2014 by the European steel producers association, Eurofer.

Accor fell 3.2 percent after Eurazeo and Colony Capital sold a near 10-percent stake in the hotel group.

By 0906 GMT, the FTSEurofirst 300 index of top European shares was down 0.2 percent at 1,602.02 points.   Continuación...