European shares pulled down by disappointing economic data
* FTSEurofirst 300 index closes 1.2 percent lower
* Raiffeisen Bank tumbles after warning on Ukraine, Hungary
* French and German PMIs rattle investors
* New U.S. tax rules hit pharma stocks
By Atul Prakash
LONDON, Sept 23 (Reuters) - European shares fell for a second day on Tuesday, after data showed a contraction in French business activity and slower growth in German manufacturing this month.
Austria's Raiffeisen Bank International, down 10 percent, led the declines on the FTSEurofirst 300 index . The bank said it might 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 shrank this month as services weakened more than expected.
The CAC fell 1.9 percent and the FTSEurofirst 300 index closed down 1.3 percent weaker at 1,374.85 points, after falling to a one-week low. The pan-European index lost 0.6 percent on Monday. Continuación...