2013.03.1107:34:07UTC+00European shares dip on China data, dollar strong

Shares of European market back off four and a half year highs as weak economic data from China and worries about Italy took th shine off.

The dollar was still rising on the jobs data, trading near a 3-1/2-year high against the yen and at a three-month high on the euro after larger than expected employment growth in the U.S. boosted optimism over recovery in the world's largest economy. But Europe's broad FTSEurofirst 300 index was down 0.1 percent at 1,193.49 points, away from September 2008 peaks, after China
reported weak factory output and consumer demand in February .

"This data shows that the economy is in the process of a mild recovery and that it is still fragile," Xu Gao, chief macro-economic analyst at Everbright Securities said.

Commodities prices were caught between growing optimism about more solid demand as the global economy improves and the strengthening dollar, which makes dollar-denominated commodities more expensive for non-dollar holders.