RTRS: Euro hits day's low, stocks extend losses after Ifo poll
The euro fell to its lowest level of the day and European shares extended losses on Monday after weaker-than-expected readings of the German business sector suggested that the nation's firms continue to struggle.
Germany's Ifo said that its business climate index came in at 84.2, lower than forecasts for 85.0. The reading for current conditions was 82.5, also lower than expectations for 84.0. Despite those readings, the expectations index came in at 85.9, higher than forecasts for 85.5 [ID:nBAE001655]. The euro fell as low as $1.3959, according to Reuters data, hitting the day's low. It traded at $1.3985 before the data was released.
The FTSEurofirst 300 index .FTEU3 of top European shares was trading 0.8 percent lower at 849.61 points by 0809 GMT, after falling more than 1 percent following the release of the data.
