European shares dip as China policy concerns temper earnings boost

- European shares pulled back from eight-month highs on Wednesday as worries over China putting policy-easing measures on hold offset upbeat earnings in the region from Credit Suisse and SAP.

Asian shares were also weak despite the S&P 500 hitting an all-time closing high overnight on boosts to earnings, as investors worried over Beijing slowing the pace of policy easing for the world’s second-largest economy. [MKTS/GLOB] U.S. President Donald Trump on Tuesday said European Union tariffs facing motorcycle manufacturer Harley Davidson Inc were “unfair” and vowed to reciprocate, but gave no other details.

Kicking off the first-quarter balance sheet assessment for banks in the region, Swiss lender Credit Suisse rose 3 percent after posting a surprise profit and saying it was cautiously optimistic about the second-quarter following a challenging start to the year. Wirecard jumped 8 percent after a Bloomberg report said Japan’s Softbank was looking to invest about 900 million euros to pick up a minority stake in the company.

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