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European stocks down after Gazprom supply cut threat

Published on Mar 8, 2014 3:22 AM

LONDON (AFP) - Europe's main stock markets perked up Friday on strong US jobs data but the optimism proved short-lived as Russian energy giant Gazprom's threat to cut off gas to Ukraine quickly sent the indices back down.

Frankfurt's DAX 30 tumbled 2.01 per cent to close at 9,350.75 points, while London's FTSE 100 dropped 1.12 per cent to 6,712.67 points and in Paris the CAC 40 fell 1.15 per cent to 4,366.42 points.

The indices had briefly ticked up after Washington said the US economy generated 175,000 jobs in February, a rebound from two poor months.

"The US labour market rebounded more than expected in February... Consensus had been for a 149k rise," said Robert Wood, chief economist at Berenberg.

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