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European stocks lose ground on Wall Street downturn

Analysts cite negative US manufacturing data, Russian sanctions

24 March, 19:32
European stocks lose ground on Wall Street downturn (ANSA) - Milan, March 24 - European stock exchanges lost ground Monday following a downturn on Wall Street, where US stocks fell for a second day as economic data signaled a slowdown in American manufacturing.

Some analysts also said increasing EU and US sanctions could push Russia's economy into a recession, Bloomberg reported.

In Milan, the FTSE-Mib index dropped by 1.65% in the second half of the trading day to close at 20,626 points.

In Madrid, the IBEX-35 lost 1.39% to end at 9,913.10 points while London's FTSE-100 shed 0.56% to close at 6,520.39 points.

Paris was also negative, with the CAC-40 index dropping by 1.36% to end at 4,276.34. Frankfurt plunged 1.65%, with the DAX index ending at 9,188.77 points.