European shares extend losses

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European shares extended losses in tandem with US stock index futures after worse-than-expected retail data from the United States showed consumers in the world's largest economy were turning more cautious.

US retail sales fell for a second straight month in May as demand for building materials tumbled and declining gasoline prices weighed down on receipts at service stations, a government report showed on Wednesday.

The pan-European FTSEurofirst 300 index was down 0.7 percent to 983.11 points at 14:55 SA time. - Reuters


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