European shares steady near 8 month highs

LONDON, Dhu-AlHijjah 06, 1437, September 07, 2016, SPA — European shares remained just off an 8 month high on Wednesday, supported by a rise in Weir Group and well-received company results which helped to counteract weak data out of Germany, Reuters reported.
The STOXX Europe 600 edged down 0.1 percent to 349.25. The index hit its highest level since January on Monday, before weak data from the United States saw it fall back in the previous session.
Weak data also hindered stocks on Wednesday, and Germany’s DAX underperformed slight gains for peripheral euro zone indexes after German industrial production unexpectedly fell in July. It recorded its steepest fall in 23 months.
Banks dropped again, and the sector was down 0.7 percent, the top sectoral faller. The sector has fallen in each of the last three sessions, down 2.8 percent over that time, as weak data has confirmed the low growth, low interest rate environment which has damaged banks’ earnings.
–SPA
13:33 LOCAL TIME 10:33 GMT