Weaker personal goods, mining shares hit European stocks
LONDON, March 12
LONDON, March 12 (Reuters) - European shares fell in early trading on Wednesday, with poor earnings outlook from some companies and concerns about the Chinese credit market hurting sentiment.
The STOXX Europe 600 personal and households goods sector fell 1.3 percent, the top sectoral decliner in Europe, led lower by a 4.2 percent drop in Tod's after the Italian luxury shoemaker posted a drop in 2013 net profit and said it was cautious about prospects for 2014.
The FTSEurofirst 300 index of top European shares was down 0.5 percent at 1,315.35 points by 0806 GMT, also dragged down by a 0.6 percent drop in European basic resources stocks.
Sentiment towards mining stocks deteriorated after Shanghai copper fell by its five percent daily limit and London copper hit a 44-month low on growing concerns that credit-linked defaults in China, the world's top user of the metal, could unlock copper from financing deals and unleash more selling.