European shares sharply lower as oil prices drop, ECB hopes fade

jueves 14 de enero de 2016 05:53 GYT

* FTSEurofirst hits lowest since late August

* Fiat slumps on report of lawsuit over falsified US sales

* Tesco outshines after strong sales figures (Adds details, updates prices)

By Danilo Masoni

MILAN, Jan 14 (Reuters) - European shares fell sharply on Thursday after two sessions of gains, with sentiment depressed by continued weakness in oil prices - which briefly dipped below $30 - and worries over global economic growth.

The pan-European FTSEurofirst 300 to its lowest intraday level since late August following a Reuters report saying many European Central Bank policy makers are sceptical about the need for further near-term policy action.

"Expectations of more ECB help were growing. But news like this is a cold shower for such expectations in a climate already (made nervous) by the China situation, geopolitical tensions in Korea and this morning's attacks in Jakarta," said Marco Vailati, head of research at Italy's Cassa Lombarda.

By 0933 GMT, the FTSEurofirst 300 was down 2.3 percent at 1,323.65 points, having earlier hit 1,315.37, its lowest level since Aug. 24.

Fiat Chrysler was the steepest loser, falling more than 7 percent with traders citing a report in Automotive News saying two U.S. car dealerships had filed a lawsuit accusing the carmaker of falsifying sales.   Continuación...