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Debt Crisis: European shares slip on grim macro date from Europe, China and US

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Traders work on the floor of the New York Stock Exchange

Traders work on the floor of the New York Stock Exchange

Traders work on the floor of the New York Stock Exchange

EUROPEAN stocks slipped on Thursday, hurt by grim macro data from Europe, China and the United States, although shares bounced off the day's lows as a number of investors took advantage of the pull-back to lift their exposure to equities.

The FTSEurofirst 300 index of top European shares unofficially closed 0.1 percent lower at 1,114.89 points, after falling by as much as 0.7pc during the session.



"For now, this is a pause in the rally, not the start of a correction. Investors are taking a breather. Indexes are testing key support levels and they are holding," FXCM analyst Nicolas Cheron said.



"The idea here is to buy the dips, knowing that the Fed and BCE are out there to support the economy."



The eurozone bank index, which has jumped around 50 percent since late July, fell 2.1 percent on Thursday, with Banco Popolare down 4.4pc and Societe Generale down 2.2pc.



Cyclical miners also featured among the biggest fallers, with Anglo American down 4.6 percent and Rio Tinto down 2.9pc.