European shares slide

European shares skidded lower on Monday, extending last week's losing streak, as concerns about faltering global economic growth hit equity markets across the world. The pan-European FTSEurofirst 300 index, which had already fallen for the last four sessions, was down by 0.6 per cent at 1,285.31 points by 0705 GMT, with Germany's DAX falling to a new one-year low. European stock markets have been hit by a raft of weak economic data, and on Friday credit rating agency Standard & Poor's lowered its outlook on France to ‘negative’ from ‘stable’, according to Reuters.