European shares hit 4-1/2 mth low on concerns over Iraq

viernes 8 de agosto de 2014 03:53 GYT

* FTSEurofirst 300 down 1.3 pct, hits 4-1/2 month low

* Afren sinks after suspends output from Kurdistan

* Nokian Renkaat hit by plummeting sales in Russia

* Monte dei Paschi falls after results

By Blaise Robinson

PARIS, Aug 8 (Reuters) - European shares dropped on Friday, sinking for the seventh time in eight sessions on mounting geopolitical jitters after U.S. President Barack Obama authorised air strikes in Iraq.

At 0742 GMT, the FTSEurofirst 300 index of top European shares was down 1.3 percent at a 4-1/2 month low of 1,297.93 points. The benchmark index has lost about 7 percent since mid-June.

Obama said on Thursday he had authorised U.S. air strikes to blunt the onslaught of Islamist militants in northern Iraq and began airdrops of supplies to besieged religious minorities to prevent a "potential act of genocide".

"There's just no buyers out there, and indexes keep breaking support levels one after the other," FXCM analyst Vincent Ganne said.   Continuación...