European shares slip on lack of stimulus

By REUTERS
September 9, 2011 10:31

 
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LONDON - European shares fell early on Friday, tracking Wall Street lower, after US Federal Reserve chairman Ben Bernanke gave no indications of new stimulus measures.

At 0721 GMT, the FTSEurofirst 300 index of top European shares was down 0.2 percent at 938.07 points, after rising 0.9 percent in the previous session.

US President Barack Obama challenged Congress on Thursday to enact a $447 billion package of tax cuts and new spending to revive a stalled job market, though traders and strategists said it would only have a limited effect on investors' confidence, especially as it may not be passed.

Stocks fell across the board, with the STOXX Europe 600 Basic Resources Index losing 0.6 percent as copper prices fell.

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