European stocks, German Bund yields fall after U.S. GDP data

LONDON, June 25 Wed Jun 25, 2014 8:48am EDT

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LONDON, June 25 (Reuters) - European stocks extended losses, while German 10-year Bund yields fell to their lowest since May 2013 on Wednesday after data showed the U.S. economy contracting at a much steeper pace than expected in the first quarter.

U.S. gross domestic product fell at a 2.9 percent annual rate, the economy's worst performance in five years, instead of the 1.0 percent fall it had reported last month.

The FTSEurofirst 300 index of top European shares extended losses after the U.S. GDP data. The index was down 1 percent at 1,372.64 points by 1242 GMT.

German 10-year yields fell to their lowest since May 2013 at 1.27 percent. (Reporting by the London markets team, editing by Nigel Stephenson)

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