German retail sales fall more than expected
Euro zone factories struggled in May PMI
Dr.Martens surges on upbeat outlook
DWS slide as CEO steps down

June 1 Reuters European shares gave up early gains on Wednesday as weak German retail sales and slowing factory activity in the euro zone fanned worries about economic growth amid record high inflation.

The panEuropean STOXX 600 index was down 0.3, after gaining as much as 0.4 in early trading. The benchmark shed 1.6 in May as surging inflation stoked worries about aggressive central bank action.

German retail sales fell a morethanexpected 5.4 in April, data showed, while manufacturing growth in the euro zone slowed last month as factories faced supply shortages, high prices and a fall in demand.

The price action we have seen this week in stocks is very much indicative of the overall uncertainty in the markets at present, said Stuart Cole, head macro economist at Equiti Capital.

Yesterday39;s strongerthanexpected inflation figures from the EU reignited fears about how high interest rates might be raised generally. The key fear is that central bank actions will inadvertently induce recessions.

Deutsche Bank economists raised expectations over European Central Bank policy tightening and expect 50 basis points increase in interest rates in September. 

On the STOXX 600, declines in commodity linked stocks and tech outweighed gained in banks and consumer shares.

Regional bourses were mixed. Commodity heavy FTSE 100…