UPDATE 1-European shares hit 5-week closing low on China, Ukraine jitters

jueves 13 de marzo de 2014 14:19 GYT
 

* FTSEurofirst 300 down 1.1 percent

* Worries over Chinese growth, Ukraine weigh on sentiment

* Morrison's warning sets off sell-off among UK retailers

By Tricia Wright

LONDON, March 13 (Reuters) - European stocks hit a five-week closing low on Thursday as worries over economic growth in China and tension in Ukraine took their toll on market sentiment.

A broad sell-off among UK retailers, after a profit warning by supermarket Morrison's, also contributed to the downward momentum.

Concern about China intensified after data showed its economy slowed markedly in the first two months of the year. Growth in investment, retail sales and factory output have all dropped to multi-year lows.

Developments in Ukraine before Sunday's referendum in Crimea, which some fear could bring harsh Western sanctions against Russia, also prompted many investors to sell out.

European shares extended losses in late trade after Ukraine's acting president said that Russian forces were concentrated on the border "ready to invade", although he believed international efforts could end Moscow's "aggression" and avert the risk of war.   Continuación...