MW: Europe stocks move lower as ECB cuts forecasts
By Barbara Kollmeyer
MADRID (MarketWatch) -- European stock markets pushed lower on Thursday as the European Central Bank cut its euro-area growth forecasts as President Jean-Claude Trichet said the pace of growth in the euro-area region had decelerated. The Stoxx Europe 600 index XX:SXXP -0.11% , which earlier had a shaky hold on gains, fell 0.5% to 227.61. The German DAX 30 index DX:DAX -0.93% sank 1.5% to 5,324.59, while the France CAC 40 index FR:PX1 -0.33% slid 0.8% to 3,050.35. Losses were led by the food and beverage, auto and industrial sectors as banks gave up an earlier lead.
