Hermes slips as European shares dip below multi-year highs

miércoles 25 de marzo de 2015 11:21 GYT
 

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

* Steel producers rally after EU says to impose duties

* Rebound in euro weighs on DAX

By Blaise Robinson and Sudip Kar-Gupta

PARIS, March 25 (Reuters) - European shares retreated further from 7-1/2-year highs hit last week as a rebound in the euro pegged back stock markets and pushed the German market back off record highs.

Germany's DAX equity index, which hit a record high of 12,219.05 points last week, fell 0.6 percent to 11,928.88 points.

Data on Wednesday showed German business morale rose for the fifth month in a row in March, hitting its highest level since July 2014, while French business morale stood at its highest in nearly three years in March.

On Tuesday, figures showed Germany's private sector grew in March at its strongest rate since July.

However, the strong German data has contributed to a rebound in the euro on currency markets, which has impacted the DAX as a weaker euro helps German exporters.   Continuación...