Reuters: Financial Services and Real Estate: European shares dive to 4-1/2 month closing low

Reuters: Financial Services and Real Estate Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

European shares dive to 4-1/2 month closing low May 14th 2012, 15:43 Mon May 14, 2012 11:52am EDT LONDON May 14 (Reuters) - European shares sank to a four and a half month closing low on Monday in a broad-based sell-off as political deadlock in Greece raised the prospect of the country's exit from the euro zone, while concerns over China's economy also undermined sentiment. The FTSEurofirst 300 index of top European shares provisionally ended down 1.7 percent to 1,005.33, its lowest close since Dec. 30. The Euro STOXX 50 volatility index, Europe's main gauge of investor anxiety, meanwhile, jumped almost 12 percent. "With no real positives to be drawn from the global economic picture whilst the euro zone crisis grows deeper by the day, investors are voting with their feet," Mike McCudden, head of derivatives at Interactive Investor, said. "Some shares are indeed starting to look very cheap but investors continue to take a risk-off approach until the storm has passed."

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