European stock markets slip on growth fears

LONDON. April 11. KAZINFORM European stocks have fallen after investors were given their first chance after the Easter break to react to Friday's disappointing US jobs data, BBC reported.

France's Cac 40 index fell 1.7%, while the UK's FTSE 100 and Germany's Dax lost about 1%.

Italian shares fell by almost 3% on media reports the government was about to cut its growth forecast.

However, US shares were little changed when trading got underway on Wall Street, having fallen 1% on Monday.

Analysts say there is some caution as US companies begin to report first quarter results, starting with aluminium giant Alcoa later on Tuesday.

'Turning point'

Investors in Europe also had an eye on mixed Chinese data showing a rise in exports but a sharp fall in imports.

A report from the Organisation for Economic Co-operation and Development (OECD) also gave mixed messages.

It identified a "potential turning point in economic activity in the euro area and regained momentum in other major economies", particularly the US and Japan.

But the report also talked of "diverging" economies in Europe, with Germany and the UK showing a "positive change in momentum" but France and Italy displaying "continued sluggish activity".

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