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European shares extend losses after ECB comments

Source : REUTERS
Last Updated: Thu, Feb 14, 2013 10:30 hrs

LONDON, Feb 14 (Reuters) - European shares extended losses on Thursday, weighed down by weak euro zone eocnomic data and by comments from ECB Vice President Vitor Constancio who said that markets should determine exchange rates.

"Basically what saying is that the ECB still remains reluctant to manipulate the euro lower which suggests to me that the economic data is going to continue to deteriorate," Michael Hewson, analyst at CMC Markets, said.

The FTSEurofirst 300 was down 0.3 percent at 1,162.58 points , while Euro STOXX 50 fell 0.7 percent, as investors fretted about the negative impact of the strong euro on corporate earnings.




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