European shares fall back as drop in Erste knocks bank stocks

miércoles 8 de junio de 2016 09:46 GYT
 

* Erste falls on move by Uniqa to sell Erste shares

* Ingenico hit by drop in U.S. peer VeriFone

* World Bank cuts economic growth forecasts (Adds details, updates prices)

By Kit Rees and Sudip Kar-Gupta

LONDON, June 8 (Reuters) - European shares fell on Wednesday, retreating after two straight days of gains, as a drop in Austrian bank Erste knocked financial stocks.

Mixed Chinese economic data, along with a decision by the World Bank to slash its 2016 global economic growth forecast, also gave some traders a reason to take a negative view on the outlook for stock markets.

"The Chinese export figures looked a bit disappointing, and the World Bank's cut to its forecasts is another reason to be a bit bearish on the markets," said Berkeley Futures' associate director Richard Griffiths.

The pan-European STOXX 600 and FTSEurofirst 300 indexes both fell 0.5 percent, after rising for the last two days.

Erste fell 3.4 percent, after insurance company Uniqa said late on Tuesday it would sell around 17.4 million Erste shares.   Continuación...