* FTSEurofirst 300 down 0.7 pct at lowest since June 5
* GDF-Suez sags as France sells stake at bottom of range
* U.S. GDP data eyed
By Blaise Robinson
PARIS, June 25 European shares dropped on
Wednesday, mirroring a pull-back on Wall Street and in Asia as
mounting worries over violence in Iraq prompted investors to
book profits after a strong run.
Shares in GDF Suez dropped 3.1 percent after the
French state sold a 3.1 percent stake at a price of 20.18 euros
per share, the bottom of a range for the share placement set by
bookrunners on Tuesday evening.
By 0755 GMT, the FTSEurofirst 300 index of top
European shares was down 0.7 percent at a three-week low of
The index had hit a 6-1/2 year high last week, before
geopolitical worries sparked a bout of profit-taking.
Security forces fought Sunni armed factions for control of
the country's biggest oil refinery on Tuesday and militants
launched an attack on one of its largest air bases less than 100
km (60 miles) from the capital.
The Iraq crisis spurred selling on Wall Street late on
Tuesday, with the Dow Jones industrial average staging
its biggest one-day fall for a month.
"The situation in Iraq is rattling investors, and there's a
risk of escalation if the U.S. decides to intervene there. This
is what triggered a sell-off in the last hour of trading on Wall
Street," Montaigne Capital fund manager Arnaud Scarpaci said.
"But the real market direction should come from U.S. growth
figures later today, given the recent doubts about the pace of
the economic recovery."
A raft of U.S. macroeconomic data is due on Wednesday,
including the final reading of first quarter GDP at 1230 GMT,
seen down 1.7 percent, according to a Reuters poll.
Wednesday's market retreat was led by shares of
resource-related companies, with ArcelorMittal down
2.3 percent, Glencore 1.5 percent and BP 1.3
Europe bourses in 2014: link.reuters.com/pap87v
Asset performance in 2014: link.reuters.com/gap87v
Today's European research round-up
(Editing by Louise Ireland)