MW: Europe stocks erase gains after Philly Fed index
By Sara Sjolin
LONDON (MarketWatch) -- European stock markets turned lower in afternoon action on Thursday, after the Philadelphia Federal Reserve's business-conditions index unexpectedly dropped to 1.3 in April from 2.0 in March. Economists polled by MarketWatch expected the index to rise to 4.0. The Stoxx Europe 600 index XX:SXXP +0.11% dropped 0.3% to 282.96, after trading most of the day in positive territory. Germany's DAX 30 index DX:DAX -0.27% lost 0.8% to 7,442.10, while France's CAC 40 index FR:PX1 +0.15% gave up 0.3% to 3,587.48. The U.K.'s FTSE 100 index UK:UKX -0.0046% fell 0.2% to 6,234.17.
