European shares hit 1 1/2-month low as macro outlook darkens

martes 7 de octubre de 2014 10:52 GYT

* FTSEurofirst 300 down 1.2 pct

* Worries over economic outlook as IMF cuts forecast

* German data disappoint

* Rio jumps after rejects merger approach by Glencore

By Liisa Tuhkanen and Francesco Canepa

LONDON, Oct 7 (Reuters) - European shares dropped to a 1 1/2-month low on Tuesday as the International Monetary Fund cut its growth estimates for the euro zone's three largest economies and German industrial output data came in lower than expected.

Market bets on a European economic recovery faded as the IMF downgraded its forecasts for Germany, France and Italy. Meanwhile, Germany reported its biggest drop in industrial production since the financial crisis in early 2009.

At 1425 GMT, the FTSEurofirst 300 index of top European shares was down 1.2 percent at 1,333.90 points, after reaching its lowest level since Aug 18 at 1,331.54 points.

The index has fallen 5.4 percent since hitting a 6 1/2-year high in September, rattled by some poor euro zone data, disappointment at the European Central Bank's recent stimulus action and the prospect of a tightening in U.S. monetary policy.   Continuación...