FTSE 100 down 0.16%; DAX down 1.12%; CAC 40 down 2.13% (Il Sole 24 Ore Radiocor) - Milan, 14 Jun - European shares were lower in cautious midday trade, extending a recent selloff and rounding off a turbulent week. The Stoxx 600 index was down 0.77%.

France's CAC 40 dipped as investors fretted over a possible victory for the far-right National Rally party in the country's upcoming parliamentary election.

At 1145 GMT, the London FTSE 100 was down 0.16% at 8,150 points, the Frankfurt DAX was down 1.12% at 18,059 points, the Paris CAC 40 down 2.13% at 7,544 points, while in Milan the FTSE MIB sank 2.47% at 32,779 points, and in Madrid the IBEX 35 was down 0.99% at 10,956 points.

On Monday, in the wake of the European Union vote, where his party lagged Marine Le Pen's Rassemblement National, French president Emmanuel Macron has called for snap legislative elections later in June.

France's short-dated bond yields, which move inversely to prices, tumbled by seven basis points.

Broader political uncertainty kept sentiment in check this week after the latest European Union elections showed a broader shift towards right-wing and far-right parties.

The Federal Reserve on Wednesday held the federal funds rate at 5.25% to 5.50% but slashed its outlook for interest rate cuts, warning that it expects only one rate cut this year, down from previous forecasts of three. However, the so-called 'dot plot' - a chart updated on a quarterly basis giving each Fed member's prediction on the trajectory of the federal funds rate - indicated a more aggressive cutting path for 2025, with four rate cuts totaling a full percentage point, up from three.

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(RADIOCOR) 14-06-24 13:54:57 (0337) 5 NNNN