China fears wipe quarter of a trillion euros off Europe's blue-chips

lunes 24 de agosto de 2015 06:50 GYT
 

* FTSEurofirst loses over a trillion euros so far in August

* Euro STOXX Volatility Index hits new highs

* Mining and financial sector stocks fall sharply

* Europe bourses in 2015: link.reuters.com/pap87v

* Asset performance in 2015: link.reuters.com/gap87v

By Alistair Smout

LONDON, Aug 24 (Reuters) - European stocks slumped on Monday after a rout in Chinese markets, wiping hundreds of billions of euros off leading shares and sending one benchmark index to a seven-month low.

The pan-European FTSEurofirst 300 fell 3.2 percent to 1,381.77 points by midsession, taking roughly 270 billion euros off the value of shares.

The index sank to its lowest level since January, having lost over a trillion euros in market value since the start of the month as China's devaluation of the yuan stoked fears of global economic deflation.   Continuación...