Euro zone growth scare weighs on European shares

jueves 14 de agosto de 2014 03:27 GYT

* FTSEurofirst 300 falls after weak German, French data

* Germany's DAX down 0.3 pct, France's CAC down 0.5 pct

* Strong German results help limit market losses

By Francesco Canepa

LONDON, Aug 14 (Reuters) - European stocks opened lower on Thursday as disappointing economic output data from the euro zone's two largest economies dashed hopes for a more solid recovery in the currency bloc.

By 0712 GMT, the pan-European FTSEurofirst 300 index was 0.3 percent lower at 1,322.09 points, Germany's DAX also fell 0.3 percent and France's CAC dropped 0.5 percent.

The German economy suffered a surprise contraction, its first in more than a year, in the three months to June and France slashed its growth forecasts for this year and the next after its economy failed to grow in the second quarter.

"Data is getting weaker and this is no longer an environment where we are overweight equities," said strategist Matthias Thiel at M.M.Warburg & CO in Hamburg, who turned "neutral" on European equities last week.   Continuación...