LONDON: European shares clawed back some gains from last week's losses on Monday and the euro backed off three-week highs as investors traded cautiously ahead of key data this week including an Italian bond auction and a key German economic sentiment index.
After a run of positive numbers, weak PMI reports last week stoked fears thatChina's economy is slowing and the euro zone is sliding into recession.
The FTSEurofirst 300 opened a third of a percent higher after losing 2.6 percent the previous week, the worst so far this year.
"This is going to be a sideways to slightly bearish market for a least a couple of weeks inEurope," said Valerie Gastaldy, general manager of Paris-based Technical analysis firm Day by Day.
MSCI's main world stock index fell 0.1 percent. The euro dropped 0.2 percent to $1.3250.
German Bund futures inched up at the open with traders bracing for softer Ifo sentiment data after weak manufacturing figures last week renewed growth worries aboutEurope's biggest economy.
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