German GDP growth slump sends shares tumbling

German growth lurched sharply lower in the second quarter of 2011, piling more pressure on the eurozone and sending shares in the UK lower in early trading.

The latest GDP figures showed Germany's economy barely expanded at all in the second quarter, with growth of just 0.1%. The figure was down sharply from Q1's growth of 1.3%, and having sent futures tumbling, shares in Europe were sharply lower at opening. The Dax was down 1.8% at 5,918 initially, while France's Cac was down 1.5% at 3,190. The weaker than expected growth from Europe's largest economy will exacerbate fears about the health of the eurozone and its chances of battling through its current woes. In reaction UK investors also sold shares, with the FTSE erasing all of y...