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European stocks fell on Friday, posting their first monthly loss since August and slowed by concerns that corporate earnings will slide due to weak emerging markets.

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Emerging Market Turmoil, Deflation Jitters Hurt European Shares

European stocks fell on Friday, posting their first monthly loss since August and slowed by concerns that corporate earnings will slide due to weak emerging markets.

Emerging Market Turmoil, Deflation Jitters Hurt European Shares (Reuters)

European stocks fell on Friday, posting their first monthly loss since August and slowed by concerns that corporate earnings will slide due to weak emerging markets. Also roiling investors, data showed an unexpected drop in euro-zone inflation, reviving fears that the currency bloc could slip into deflation. The FTSEurofirst 300 index of top European shares slid 0.2 percent to 1,291.17 points, causing a monthly loss of 1.9 percent. The index dropped as much as 1.6 percent during the session, before late-day short covering cut losses, traders said. The euro zone’s blue-chip Euro STOXX 50 index ended 0.4 percent lower at 3,013.96 points, with technical charts showing the benchmark index slipping below a positive trend line started in June, sending investors a bearish signal. The Euro STOXX 50’s next barrier on the downside is 2,916 points, representing a low that was hit in mid-December. Below that line, the index’s next big support level will be at 2,877 points, the 200-day moving average.

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Written By

Paul Dykewicz is the editorial director of the Financial Publications Group at Eagle Publishing Inc., www.eaglepub.com, of Washington, D.C. Eagle publishes five free, e-letters, 10 weekly trading services and five monthly investment newsletters, Forecasts & Strategies, Successful Investing, Cash Machine, Growth & Dividend Report and The Alpha Investor Letter. He also is the editor of Eagle Daily Investor and the author of the inspirational book, "Holy Smokes! Golden Guidance from Notre Dame's Championship Chaplain."

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archive

Emerging Market Turmoil, Deflation Jitters Hurt European Shares

Emerging Market Turmoil, Deflation Jitters Hurt European Shares (Reuters)

European stocks fell on Friday, posting their first monthly loss since August and slowed by concerns that corporate earnings will slide due to weak emerging markets. Also roiling investors, data showed an unexpected drop in euro-zone inflation, reviving fears that the currency bloc could slip into deflation. The FTSEurofirst 300 index of top European shares slid 0.2 percent to 1,291.17 points, causing a monthly loss of 1.9 percent. The index dropped as much as 1.6 percent during the session, before late-day short covering cut losses, traders said. The euro zone’s blue-chip Euro STOXX 50 index ended 0.4 percent lower at 3,013.96 points, with technical charts showing the benchmark index slipping below a positive trend line started in June, sending investors a bearish signal. The Euro STOXX 50’s next barrier on the downside is 2,916 points, representing a low that was hit in mid-December. Below that line, the index’s next big support level will be at 2,877 points, the 200-day moving average.

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