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European markets slip on US job figures

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European markets slip on US job figures

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European shares finished lower on Wednesday after rising for the previous six sessions. London’s FTSE 100 slumped nearly three percent. Oil prices slid sharply pulling the energy sector down, led by BP on rumours it will produce worse than expected fourth-quarter earnings. Banking and mining stocks were also under renewed pressure.

Utilities were big losers amid concerns about a shut down of Russian natural gas exports through Ukraine to Europe. New data showing further deterioration in the US jobs market and a warning from microchip maker Intel about its fourth quarter revenue also had an impact.