European shares ended lower for a third straight session on Wednesday as sagging oil prices pressured oil stocks such as BP, while economic worries offset upbeat earnings reports and a shipping merger deal. Dutch shipping firm P&O Nedlloyd surged 12.5 percent to 56.75 euros as Danish rival A.P. Moeller-Maersk said it would bid 57 euros per share in an agreed takeover offer, Reuters reported. Better-than-expected sales at Pernod Ricard, a French spirits giant bidding for Allied Domecq, and a reassuring earnings update from German airline Lufthansa also helped to feed market gains. Investors seemed to shrug off much of the good news, focusing instead on signs of slowing economic growth. The FTSEurofirst 300 index of European blue chips erased early gains and fell 0.2 percent to 1,071.8 points, while the narrower DJ Euro Stoxx 50 ended 0.4 percent lower at 2,970.5 points. Data showed that French industrial output had fallen more than expected in March, while the Bank of England said Britain's economic growth outlook had weakened slightly because of flagging consumer spending. --More 2142 Local Time 1842 GMT
