European shares halt recovery rally; H&M drops

PARIS, March 27 Thu Mar 27, 2014 4:07am EDT

PARIS, March 27 (Reuters) - European shares dipped in early trade on Thursday, halting their recovery rally, with Hennes & Mauritz falling after reporting lower-than-expected quarterly profits.

Shares in the world's second biggest fashion retailer fell 3.1 percent after posting results well short of average analyst forecasts.

At 0803 GMT, the FTSEurofirst 300 index of top European shares was down 0.2 percent at 1,316.68 points, after gaining 3.3 percent since mid-March.

European shares were also tracking losses on Wall Street where technology stocks such as Facebook and King Digital Entertainment Plc sank. (Reporting by Blaise Robinson; Editing by Toby Chopra)

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