European shares hit 13-month low on growth concerns

jueves 16 de octubre de 2014 05:56 GYT
 

LONDON Oct 16 (Reuters) - Europe's benchmark FTSEurofirst 300 index slipped further to set a 13-month low on Wednesday on mounting worries over the strength of the global economy and concerns about deflation in the euro zone.

At 0949 GMT, the pan-European stock index was down 2.5 percent at 1,220.56 points after falling to a low of 1,215.62, its worst level since early September last year. The index has fallen more than 13 percent since mid-September of 2014.

Britain's FTSE 100 index, Germany's DAX, France's CAC and Italy's FTSE MIB fell 1.5 to 3.3 percent.

Cyclical shares, which are generally sensitive to economic conditions, were the worst hit. The euro zone's banking index slumped 5.2 percent, while the European construction index was down 3.2 percent. (Reporting by Atul Prakash; Editing by Sudip Kar-Gupta)