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European shares edge lower

Thursday, August 21 08:22:05

European equities edged lower in early trading on Thursday, with miners slipping after a disappointing manufacturing survey from China, the world's biggest metals consumer.

The STOXX Europe 600 Basic Resources index fell 0.8 percent, the biggest sectoral decliner in Europe, after the HSBC/Markit Flash China Manufacturing Purchasing Managers' Index (PMI) fell to 50.3 in August from July's 18-month high of 51.7, badly missing a Reuters forecast of 51.5.

Miners Rio Tinto, BHP Billiton and Antofagasta dropped 0.7 to 1.6 percent.

The FTSEurofirst 300 index of top European shares fell 0.1 percent to 1,345.18 points by 0712 GMT.

However, Austria's Raiffeisen Bank International rose 5.1 percent after saying it expected "no significant impact" from western sanctions against Russia over the crisis in Ukraine, underscoring its commitment to its single most profitable market. (Reuters)

For more visit: www.businessworld.ie