Prime News: European stocks slump as G20 fails to produce new measures

European shares on Monday skidded from a three-week peak, on track for third consecutive month of losses, as last week’s G20 meeting failed to produce new measures to beef up growth.

On Saturday, finance ministers and central bank governors recognized the necessity to look beyond low interest rates and printing money to surpass the global economic turmoil.

Their official announcement reflected a series of perils encompassing worldwide economic growth, including volatile capital flows and sharp decline in commodity prices.

The FTSEurofirst 300 index slipped 1% following it closed 1.6% higher on Friday.

The material has been provided by InstaForex Company – www.instaforex.com