European shares halt rally after poor China data
PARIS, April 13 (Reuters) - European shares dipped in early trading on Monday, halting their recent sharp rally, following poor economic figures from China.
Shares in Norwegian seismic oil and gas explorer TGS sank 10.6 percent after it cut its full-year revenue guidance and said it would lay off a tenth of its workforce.
At 0705 GMT, the FTSEurofirst 300 index of top European shares was down 0.2 percent at 1,642.81 points.
Data showed that China's export sales contracted 15 percent in March while import shipments fell at their sharpest rate since the 2009 global financial crisis, a shock outcome that deepens concern about sputtering Chinese economic growth. (Reporting by Blaise Robinson; Editing by Sudip Kar-Gupta)
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