* FTSEurofirst 300 down 0.13 pct; Euro STOXX 50 -0.06 pct
* ASML slides after Q3 results
* Skanska warns of impact on earnings from writedowns
* New business in-flows lift Hargreaves Lansdown shares
By Danilo Masoni
MILAN, Oct 14 (Reuters) - European shares were little changed on Wednesday with gains capped by new concerns about deflationary pressures in China, while technology group ASML and builder Skanska slid after weak business updates.
The pan-European FTSEurofirst 300 index < .FTEU3> fell 0.13 percent while the euro zone’s blue-chip Euro STOXX 50 index declined by 0.06 percent.
The indexes reduced earlier losses as Wall Street opened little changed with investors assessing bank earnings reports and data showed a weaker-than-expected rise in September U.S. retail sales.
Data on Wednesday showed that consumer inflation in China eased more than expected in September while producer prices fell for the 43rd straight month.
European stocks have retreated from their April peaks, due partly to the signs of weakness in China, the world’s second biggest economy and a major overseas market for European companies such as carmakers and luxury goods groups.
“Chinese data are weighing on sentiment, along with a disappointing earning report from JPMorgan in the U.S. But we shouldn’t forget that we’ve just left behind the best week of the year and some profit taking is normal,” said Marco Vailati, head of research at Cassa Lombarda, said.
Data on Wednesday showing euro zone industrial output fell in August was giving another reason to take profit, he said.
ASML, a supplier to top global semiconductor makers, fell 4.5 percent after its third-quarter earnings came in slightly below analysts’ expectations, and with fewer than expected new bookings.
Sweden-based builder Skanska fell more than 7.7 percent, its worst day since August 2011, after it said writedowns would hit its third quarter profits.
Danish jewellery firm Pandora fell 5 percent after a dealer survey pointed to softer sales in the United States.
However, British financial company Hargreaves Lansdown rose 3.8 percent, the third best performer on the pan-European STOXX 600 index.
Even though Hargreaves reported a drop in first quarter assets under administration, investors were pleased that new business in-flows had hit a record high.
Portugal’s blue-chip index PSI rose 0.8 percent, outperforming the rest of Europe, shrugging off political parties’ failure to form a government 10 days after a national election.
Today’s European research round-up (Additional reporting by Sudip Kar-Gupta in London and Patricia Rua in Lisbon; Editing by Ruth Pitchford)