European shares weaken after disappointing French, German data

martes 23 de septiembre de 2014 04:24 GYT

* FTSEurofirst 300 down 1.1 pct, extends Monday's sell-off

* Raiffeisen Bank sinks after warning on Ukraine, Hungary

* French PMIs, German PMIs rattle investors

* New U.S. tax rules hit European pharma stocks

By Blaise Robinson

PARIS, Sept 23 (Reuters) - European shares fell in early trade on Tuesday, extending the previous session's pull-back as data showing a further contraction in French business activity in September rattled investors.

Shares in Raiffeisen Bank International featured among the top losers, down 10 percent after the Austrian lender said hits from Ukraine and Hungary will likely push it to its first-ever annual loss in 2014.

Markit data showed France's business activity contracted this month due to a weaker-than-expected services sector, as the euro zone's second-biggest economy struggles to emerge from stagnation.

Similar data for Germany showed the country's private sector growing for the 17th consecutive month in September, but the manufacturing sector expanded at its slowest pace since June 2013, with the figure coming in below all forecasts in a Reuters poll of 32 economists.   Continuación...