Growth scare sends European shares to 3-month low


24/04/2012 05:53 AST  Reuters

European shares fell to a three-month low in brisk volume on Monday and braced for a bumpy ride as worsening global economic conditions and political uncertainty in France and the Netherlands threatened to deepen the euro zone's crisis.

The pan-European FTSEurofirst 300 index fell 24.32 points, or 2.3 percent, to 1,021.76, a level not seen since mid-January, having traded 123.2 percent of its 90-day volume average.

The plunge came as data showed the euro zone's private sector unexpectedly slumped in April, denting the demand outlook for European corporates and potentially hampering governments' efforts to balance their budgets.

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