Germany's DAX hits one-year low as European shares slump

viernes 10 de octubre de 2014 10:28 GYT
 

* Germany's DAX share index falls to one-year low

* Biggest weekly U.S. outflow from European stocks in 2 months

* Some fund managers still expect ECB QE down the road

* DAX down 2.2 pct, FTSEurofirst 300 falls 1.3 pct

By Sudip Kar-Gupta

LONDON, Oct 10 (Reuters) - European shares slumped on Friday, with Germany's stock market, one of the region's best performers after the 2008 financial crisis, falling to a one-year low as concerns mounted over the German and global economies.

The DAX, which had soared to a record high of 10,050.98 points in June, fell 2.2 percent to 8,808.90 points going into the close of the trading session, after falling to a low of 8,788.21, its lowest level since October 2013.

The pan-European FTSEurofirst 300 index was down by 1.3 percent at 1,296.40 points, while the euro zone's blue-chip Euro STOXX 50 retreated 1.3 percent to 3,003.15.

The recent sell-off has prompted U.S.-based investors to cut their exposure to Europe, according to data from Thomson Reuters Lipper that shows European equities suffering their biggest outflows in two months in the seven-day period ended Oct 8.   Continuación...