European shares down sharply on disappointing Chinese data

lunes 4 de enero de 2016 11:56 GYT

* FTSEurofirst 300 and Euro STOXX 50 drop more than 2 pct

* DAX down more than 4 pct as weak China data hits markets

* Ferrari outperforms car sector on Milan debut

* Euro STOXX 50 Volatility Index rises (Updates prices)

By Sudip Kar-Gupta and Danilo Masoni

LONDON/MILAN, 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 2.6 percent by 1535 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 fell 3.3 percent and Germany's DAX slumped 4.2 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...