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Europe bourses end mixed
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August 29, 2001: 12:15 p.m. ET
Economic uncertainty plagues markets as U.S. data fails to reassure
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LONDON (CNN) - Europe's main bourses ended mixed Wednesday, with better-than-expected U.S. GDP figures being offset by anxiety about the impact of a slowing U.S. economy on the rest of the world.
Annual growth in the world's largest economy slowed to 0.2 percent in the April-to-June quarter. While the fall was less harsh than economists predicted, investors remained concerned that there is worse to come.
London's FTSE 100 ended 0.3 percent lower at 5,417 while the blue chip CAC 40 index in Paris closed 0.4 percent higher at 4,834.89. Frankfurt's electronically traded Xetra Dax was little changed at 5,312.17.
Among smaller markets, the SMI in Zurich fell 1.3 percent to 6,580.6, while Milan's MIB 30 was 0.6 percent higher at 35,591. Amsterdam's AEX rose 0.3 percent to 535.54.
The FT Eurotop 300, a broader based index of the region's largest stocks, dropped 0.2 percent, with its information technology and automotive sectors among the worst-performing industry groups.
In a see-saw session, Europe followed Wall Street into negative territory. Wednesday's report showing a slowdown in U.S. economic growth came on top of the previous day's worse-than-expected decline in American consumer confidence – an indicator that hitherto buoyant retail spending might not be able to ward off a full-scale recession.
In London, business telecom services provider Colt Telecom (CTM) was the main decliner, falling 7.2 percent.
Granada (GAA), part-owner of Britain's ITV broadcasting network, ended 4.2 percent lower and Europe's biggest chip designer, ARM Holdings (ARM), lost 3.5 percent.
Companies with exposure to American markets suffered a greater fallout. UK advertiser WPP (WPP) (owner of one of the biggest U.S. advertising agencies, Ogilvy & Mather), closed nearly 3 percent lower.
Europe's biggest airline, British Airways (BAY), fell 2.8 percent after investment bank Merrill Lynch said the carrier is heading for a full-year loss. Analyst Anthony Bor said the economic downturn had hit BA's most profitable North American routes.
In Frankfurt, Deutsche Post (FDPW) led losers with a 2.4 percent drop while automaker DaimlerChrysler (FDCX) fell 1.6 percent.
Communications and engineering conglomerate Siemens (FSIE) lost 1.4 percent.
German airline Lufthansa (FLHA) was the main leader, rising 2.6 percent. Deutsche Telekom (FDTE) rose 1.8 percent.
In Paris, insurer AGF (PAG) led the advancers, climbing 3.5 percent.
Casino (PCO), an operator of hypermarkets, supermarkets and convenience stories, rose 3.4 percent while Europe's biggest defence company, EADS (PEAD), was up 2.8 percent.
Shipments of mobile phones fell sharply in the second quarter and manufacturers Motorola and Ericsson grabbed market share from leader Nokia, research group Gartner Dataquest said Wednesday.
Finland's Nokia lost 3.3 percent, while Sweden's Ericsson was off 0.9 percent.
U.S. stocks declined Wednesday, erasing earlier gains as investors bet that news that the economy still was growing through June says little about the fate of corporate profits going forward.
In mid-morning trade, the Nasdaq composite index fell 10.48 points to 1,857.50 while the Dow Jones industrial average lost 42.35 to 10,180.93. 
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