European shares lower as auto scandal raises economy concerns

jueves 24 de septiembre de 2015 11:42 GYT

* Euro STOXX 50 down 2.5 pct, FTSEurofirst 300 down 2.4 pct

* Auto sector falls 3.7 pct led by BMW

* Wall Street lower before Fed's Yellen speaks

By Danilo Masoni

MILAN, Sept 24 (Reuters) - European shares were sharply lower on Thursday as investors fretted over the risks to the region's economic recovery from a diesel car pollution scandal at Volkswagen.

The declines were set to bring the euro zone's blue-chip index to its lowest level in 2015 and came as concerns about global growth and apprehension about a speech by U.S. Federal Reserve Chair Janet Yellen sent Wall Street into the red.

The euro zone's blue-chip Euro STOXX 50 index fell 2.5 percent to 3.003 points and the pan-European FTSEurofirst 300 index was down 2.4 percent.

European shares corrected sharply this summer after a rout in Chinese markets sent them to their lowest since January. A timid rebound followed but was soon erased by uncertainty over the Fed's rate policy and now the car emissions scandal.

"There is no time for investors to catch their breath in this market. The auto story is causing a lot of pain," said Andrea Cuturi, Partner at asset manager Anthilia Capital.   Continuación...