European shares stagger after weak UK and U.S. data

LONDON Fri Jan 18, 2013 4:42pm GMT

LONDON Jan 18 (Reuters) - European shares slipped on Friday as disappointing economic data in the UK and U.S. dampened sentiment, but technical support and on-going central bank stimulus measures kept indexes at multi-month highs.

The FTSEurofirst 300 index provisionally closed down 1.01 points at 1,164.53 points.

The outlook for global growth took a knock after a shock fall in UK retail sales cast a pall over 2013 expectations, while in the United States consumer sentiment unexpectedly deteriorated for a second straight month to its lowest in over a year.

That dented momentum in retailers and took some of the shine off gains in miners, which rose after data in China showed economic growth accelerated for the first time in two years in December.

"We have had the good China data and reasonable earnings in the U.S. which has been quite supportive. I think the markets can push higher but we are running out of catalysts," Guy Foster, head of portfolio strategy at Brewin Dolphin, said.