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News Link • European Union

European shares hit 12-week low on growth concerns

•, By Atul Prakash

LONDON, April 10 (Reuters) - European shares hit a 12-week low on Tuesday as fresh concerns about global growth and pressure on some highly indebted euro zone countries hurt cyclical stocks, with charts for a major blue-chip index showing scope for yet further declines.


Financials, miners and automakers bore the brunt of the sell-off after trading in Europe resumed following the Easter holidays, reacting to Friday's weak U.S. jobs report and Tuesday data showing no growth in France's economy in the first quarter.


A sharp decline in investors' appetite for riskier assets such as equities was also reflected in the Euro STOXX 50 volatility index, Europe's main barometer of anxiety, that surged 20 percent to a three-month high.

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