Reuters: Financial Services and Real Estate: Global slowdown fears send European shares to 6-mth lows

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

Global slowdown fears send European shares to 6-mth lows Jun 1st 2012, 15:37 LONDON, June 1 | Fri Jun 1, 2012 11:37am EDT LONDON, June 1 (Reuters) - European shares tumbled to six-month lows on Friday and braced for further losses as weak economic data from the United States and Europe cast new shadows on global economic recovery prospects. The pan-European FTSEurofirst 300 index provisionally ended down 1.7 percent at 956.29 points, a closing level not seen since December, while the Euro STOXX 50 index of euro zone blue chips fell to an eight-month closing low of 2,071.91 points, down 2.2 percent. Markets extended losses in the afternoon, when data showed U.S. job growth braked sharply in May and the unemployment rate rose for the first time in nearly a year, coming on the back of a raft of soft national factory surveys in Europe published earlier on Friday. "Today's non-farm payrolls data confirms the U.S. economy is not heading for a strong recovery this year," Michiel Van Cranenburgh, a director at Paris-based Neuflize Private Assets, which manages around 4 billion euros. "We try to avoid stocks that are dependent on growth in the U.S. or Europe because we're clearly not optimistic for the next couple of years."

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