LONDON Oct 8 European shares traded lower early
on Monday, surrendering some of the strong gains made in the
previous sessions, as weak economic estimates for Asia hurt
sentiment and investors start to position for a weak earnings
The World Bank cut its economic growth forecasts for the
East Asia and Pacific region, warning that the slowdown in China
could get worse and last longer than expected.
"The big bogeyman in the closet is China and everyone is
trying to guesstimate if it's going to have a hard landing or a
soft landing," said Philippe Gijsels, head of research at BNP
Paribas Fortis Global Markets in Brussels.
"We'll have some cautious guidance, which normally doesn't
The U.S. third-quarter reporting season, set to start on
Tuesday, was expected to show the first decline in earnings in
three years, according to Thomson Reuters data.
At 0708 GMT, the pan-European FTSEurofirst 300 was
down 0.7 percent at 1,103.51 points.