European shares retreat as G20 fails to strike new measures

lunes 29 de febrero de 2016 05:29 GYT

* FTSEurofirst 300 index slips from 3-week high

* Cyclical shares among top decliners

* Morrisons rises after Amazon distribution deal

By Atul Prakash

LONDON, Feb 29 (Reuters) - European shares retreated from a three-week high on Monday and were on track for their third straight month of losses after a weekend meeting of the G20 group of leading economies failed to strike new measures to boost growth.

British grocer Morrisons helped keep a lid on gains, surging nearly 4 percent after a striking a distribution deal with online retailer Amazon.

The pan-European FTSEurofirst 300 index was down 1 percent. It has fallen more than 4 percent this month.

"Investors are disappointed that the G20 leaders fell short of coming up with new supporting measures despite once again repeating their concerns about the global economy and financial markets," said Philippe Gijsels, head of research at BNP Paribas Fortis Global Markets in Brussels.

The Group of 20 finance ministers and central bankers said they needed to look beyond ultra-low interest rates to revive the global economy, flagging risks to growth including volatile capital flows and sinking commodity prices.   Continuación...