European shares halt recovery rally; H&M drops

Last Updated: Thu, Mar 27, 2014 09:16 hrs

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.

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