European shares slip on U.S. debt impasse
PARIS Oct 14 (Reuters) - European shares fell in early trade on Monday as the United States edged closer to a debt default after Democrats and Republicans failed to reach an agreement over the weekend.
At 0704 GMT, the FTSEurofirst 300 index of top European shares was down 0.3 percent at 1,247.32 points.
The benchmark had rallied strongly late last week on the back of signs a deal to raise the U.S. federal borrowing limit before the Oct. 17 deadline was near.
Friday's hopes that a deal could be reached over the weekend was quashed on Saturday, although Senate leaders said on Sunday they were optimistic a deal would be reached in time.
Shares in PSA Peugeot Citroen were among the top losers, down 8 percent after sources told Reuters the struggling car maker is preparing a 3 billion euro capital increase in which Chinese partner Dongfeng and the French government would take matching stakes.
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