Disappointing economic data sends European shares lower

martes 23 de septiembre de 2014 11:04 GYT
 

* FTSEurofirst 300 down 1.2 pct, extends Monday's sell-off

* Raiffeisen Bank tumbles after warning on Ukraine, Hungary

* French and German PMIs rattle investors

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

By Atul Prakash

LONDON, Sept 23 (Reuters) - European shares fell for a second session on Tuesday, with investors rattled by data showing a contraction in French business activity and slower growth in German manufacturing this month.

Shares in Austria's Raiffeisen Bank International, down 8.8 percent, were the biggest faller in the FTSEurofirst 300 index, after the lender said it could lose as much as 500 million euros ($645 million) this year because of problems in Ukraine and Hungary.

France's CAC 40 share index underperformed after Markit data showed business activity in the euro zone's second-biggest economy contracted this month due to a weaker-than-expected services sector.

The CAC index was down 1.7 percent at 1441 GMT, while the FTSEurofirst 300 index was 1.2 percent lower at 1,377.64 points, after falling to a one-week low. The pan-European index lost 0.6 percent on Monday.   Continuación...