April 8, 2014 / 7:15 AM / 4 years ago

Europe shares halt sell-off, focus shift to earnings

PARIS, April 8 (Reuters) - European shares inched up early on Tuesday, halting the previous session’s sell-off, but gains were limited following further losses on Wall Street, where investors continued to dump Internet stocks and switch into defensive sectors.

At 0704 GMT, the FTSEurofirst 300 index of top European shares was up 0.2 percent at 1,338.16 points, after losing 1.3 percent on Monday.

Wall Street’s Dow Jones industrial average fell 1 percent on Monday and the S&P 500 lost 1.1 percent. The Nasdaq, home of tech and biotech companies, lost 1.2 percent, posting its worst three-day decline since November 2011.

“It’s too early buy the dip. We need to see the start of the earnings season in the U.S. first. If the results are showing improvements in the micro space, then the market could rebound, but we’re not there yet,” said David Thebault, head of quantitative sales trading at Global Equities, in Paris. (Reporting by Blaise Robinson; Editing by Hugh Lawson)

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