LONDON: Worries about the slowing world economy and uncertainty about the extent and timing of long-awaited central bank stimulus measures hit global shares and the euro currency on Wednesday. European and global financial markets have been riding high in recent weeks on hopes that European Central Bank plans due to be detailed in September can put a floor under Spain and Italy's debt troubles and prevent the euro from unravelling. Such hopes are partly countering the effects of weak economic data, including figures on Tuesday that pointed to the euro zone sliding back towards recession, on top of earlier figures showing emerging economies such as China faltering. In the U.S. an unexpected drop in a manufacturing gauge in New York state and lower-than-expected consumer prices added to the picture. "There appears no end in sight in the near-term for an end to economic contraction in the fiscally challenged euro zone members," said Lee Hardman, currency analyst at Bank of Tokyo-Mitsubishi. Global shares were down 0.2 percent, thinned by the summer lull. Indexes in London, Paris and Frankfurt were all lower, following weakness in Asia and remaining on the back foot despite positive U.S. retail sales data on Tuesday. U.S. stocks were also indicated lower, with S&P 500 futures down 0.14 percent shortly before the opening of trade in New York. "The weakening growth outlook is likely to lead to more aggressive monetary easing from the ECB, weakening the euro further ahead," Hardman added. Brighter U.S. consumer data on Tuesday had lifted the market mood, but that was tempered in early Asian trading by concerns that it might prompt the U.S. Fed to put off another round of easing. But Wednesday's figures showing U.S. inflation was slower than expected at 2.1 percent, and other data showing manufacturing activity in New York state contracted in August for the first time since October 2011, were an instant antidote. Thursday will see the euro zone report final July inflation figures. It is forecast to stay at 2.4 percent, still well above the ECB's 2 percent comfort zone and a potential br ake on fur ther ECB interest rate cuts. EASING APPEASING Global shares are up over 3.2 percent since the start of the month, but investors remain nervous while they wait to see if ECB action lives up to expectations. ECB President Mario Draghi has said the bank will flesh out new bond buying plans to bring some stability back to strained euro zone bond markets early next month, driving hopes the bloc could start to right itself again in the second half of the year. In line with the sell off in share markets, the euro w as d own 0.4 percent a t $1.22 74 a t 1 240 G MT. The prices of German bonds - favoured by risk-averse investors - hit a six-week low. Spanish, Italian and Portuguese bonds were all up. The backdrop for th at trend remains ECB bond purchase hopes. But the moves have also been aided by the current market lull. Bunds are down more than 150 ticks this week, a nd Wednesday's latest dip was cited by traders as triggering automatic selling. Economists also believe Bank of England policymakers are considering more help for the British economy. All nine members of its Monetary Policy Committee voted to maintain the BoE's asset purchase target at the 375 billion pound level agreed in July, minutes showed, but some said there was a good case for more.

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