European shares end at 1-mth low on global woes

LONDON, Aug 20 (BestGrowthStock) – European shares fell to their
lowest close in a month on Friday, below a key resistance level
as worries about global economic growth weighed on sentiment,
with construction stocks among the worst performers.

Construction stocks continued their slide from Thursday’s
session when Holcim (HOLN.VX: ), the world’s second-biggest cement
maker, posted disappointing first-half earnings. Holcim,
Saint-Gobain (SGOB.PA: ) and HeidelbergCement (HEIG.DE: ) slipped
2.1 to 2.6 percent.

The pan-European FTSEurofirst 300 (.FTEU3: ) index of top
shares provisionally ended down 0.7 percent at 1,029.91 points.

The Euro STOXX 50 (.STOXX50E: ), the euro zone’s blue chip
index, was down 1 percent at 2,647.66 points, piercing a key
support level, the 38.2 percent retracement of the index’s fall
from a high in April to a low in May.

“We are having another one of those bad days,” said Peter
Dixon, economist at Commerzbank. “In thin trade, investors are
looking at the recent numbers coming out of the U.S. and are
concerned that a double dip is on the horizon.”

U.S. stocks (Read more about the stock market today. ) tumbled to their lowest close in nearly a month
on Thursday after anaemic labour market and regional
manufacturing reports indicated the economy was slowing.
(Reporting by Joanne Frearson)

European shares end at 1-mth low on global woes