European Stocks Decline On Growth Fears

European Stocks Decline On Growth Fears

European stocks started the session pressured by confirmed slow growth in the euro area even as data beat expectations.

Germany growth slowed in the third quarter and debt-burdened Spain and Italy remained in recession in the course of austerity policies pushed European shares lower Thursday.

Europe`s giant economy growth slowed further in the third quarter with minor 0.2 percent expansion in seasonally adjusted terms in the July-September period, the Statistics Office showed.

European stocks declined also while still under the influence of the uncertain and vagueness clouding markets over Greece`s crisis whether or not it will receive second aid batch. In addition, the creeping fearful sentiment on the United States fiscal cliff issue and its fallouts on its economy, hence the world.

At exactly 04:00 EST, Paris`s CAC 40 touched down 0.01% to 3399.62, Frankfurt`s DAX 0.36% to 7076.20 and London`s FTSE 100 fell to 5705.34, or by 0.29%.

At 12:33 (GMT +3), the euro rose to $1.2753 after opening at $1.2734. The EUR/USD pair touched highest trading at $1.2755 and lowest at $1.2716.

Britain`s pound kept sliding pushing the GBP/USD to trade at $1.5831 after opening at $1.5839, hitting a high at $1.5854 and popping back to intraday lowest at $1.5827.