European stocks trim losses after U.S. service data

FRANKFURT,  (Reuters) – European shares trimmed some of their losses in afternoon trading on Thursday, taking their cue from leading Wall Street indexes, after data showed that the U.S. service sector contracted less than expected in March.

The Institute for Supply Management’s non-manufacturing index came in at 49.6 in March, up from 49.3 in February, but below the 50 mark that separates growth from contraction.

Economists polled by Reuters had expected a reading of 48.5.

At 1413 GMT, the FTSEurofirst 300 index of top European shares was down 0.3 percent at 1,314.16 points.

The U.S. benchmark S&P 500 index was 0.2 percent lower.