FTSE down 0.73%; DAX down 1.61%; CAC 40 down 1.07% (Il Sole 24 Ore Radiocor) - London, 06 Sep - European shares closed lower dropping for a fourth straight session as concerns over a global economic slowdown continued to weigh on investor sentiment.

Data showed that in the second quarter of 2024 seasonally adjusted GDP in the eurozone increased by 0.2% compared to the previous quarter and was up 0.6% compared to the year earlier, data from European Union statistical office Eurostat showed. The data compares to a flash estimate released in August indicating that GDP in the quarter rose by 0.3% quarter on quarter and by 0.6% compared to the year earlier.

While German industrial production in real terms fell 2.4% in July on the previous month and dropped 5.3% year on year.

Industrial output also fell in France by 0.5% in July compared to the previous month.

Also weighing, the eagerly awaited August US jobs report showed that hiring in the US slowed, confirming that the labor market in the world's largest economy is softening.

The London FTSE 100 closed down 0.73% at 8,181.47 points, the Frankfurt DAX lost 1.61% at 18,297.32 points, the Paris CAC 40 fell 1.07% at 7,352.30 points, while in Milan the FTSE MIB dropped 1.17% at 33,291.39 points, and in Madrid the IBEX 35 closed 0.95% lower at 11,165.91 points.

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(RADIOCOR) 06-09-24 18:01:35 (0572) 5 NNNN