European shares fall after disappointing Chinese data
* FTSEurofirst 300 and Euro STOXX 50 drop more than 2 pct
* DAX down more than 3 pct as weak China data hits markets
* Ferrari shares slip on Milan debut
* Euro STOXX 50 Volatility Index rises (Updates prices)
By Sudip Kar-Gupta
LONDON, Jan 4 (Reuters) - European shares fell sharply on Monday, the first trading day of 2016, as weak Chinese data weighed on world stock markets and a rebound in oil prices added to market volatility.
The pan-European FTSEurofirst 300 index lost 2.4 percent by 1059 GMT, its biggest one-day drop since a 3.3 percent decline on Dec. 3.
The euro zone's blue-chip Euro STOXX 50 index declined by 2.6 percent. Germany's DAX slumped 3.5 percent.
China's factory activity contracted for the 10th straight month in December and the decline accelerated compared with November, a private survey showed. Continuación...