European shares hit by weak Asian growth outlook
LONDON Oct 8 (Reuters) - European shares fell on Monday after a downbeat report on the outlook for Asian growth capped investor sentiment around corporate earnings and kept markets firmly within their recent tight trading range.
Economic concerns mounted after the World Bank cut forecasts for the East Asia and Pacific region, saying the slowdown in China - the world's largest consumer of raw materials - could worsen and last longer than expected.
The FTSEurofirst 300 index provisionally closed down 0.9 percent at 1,101.47 points, erasing much of a 1 percent rise on Friday after better-than-expected U.S. employment data. The market has traded a tight 25 point range since Sept. 26.
The euro zone Euro STOXX 50 index fell 1.3 percent to 2,498.16 points.
"We're coming into quarterly earnings season. We're coming into what is typically the most vulnerable point for equities markets," said Tavira Securities trading head Toby Campbell-Gray, who nevertheless said he would recommend buying on any weakness.
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