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London - European shares ebbed lower at the open on Monday as clouds built up on the outlook for growth in China while worries lingered over US budget talks and Italian elections.
By 10:09 SA time, the FTSEurofirst 300 index was down 5.15 points, or 0.4 percent, at 1,163.49 points, while the euro zone's blue chip index shed 0.5 percent to 2,602.95 points as caution grew over the outlook for the global economy.
Early losses echoed a fall in Chinese equities as worries about Beijing tightening its grip on the property sector compounded weak sentiment already dampened by a patchy global growth outlook.
“Below forecast China PMI data (on Friday) and curbing property expansion is doing little to boost risk appetite. Meanwhile US budget talks and Italy's political uncertainty is adding to the downbeat tone,” a London-based trader said. - Reuters
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