Miners lead European share lower in quiet trade


15/08/2012 12:48 AST  Reuters

European shares fell from four-month highs in early trade on Wednesday, led by basic resources stocks after a bearish update from miner ENRC .

Shares in the Kazakh group shed 3.2 percent after it cut back 2012 spending plans and slashed its interim dividend as lower production volumes and price weakness in its key steelmaking commodities dragged first-half profit down 41 percent.

Tobacco giants British American Tobacco and Imperial Tobacco were also under the cosh, shedding 2.5 and 2.2 percent, respectively, as Australia's highest court dismissed a challenge from international cigarette companies in a major test case relating to packaging.

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