European shares fall on Siemens, credit worry

Newswire

FRANKFURT, July 25 (Reuters) - European shares fell to their lowest close since June 8 on Wednesday led by a decline in industrial conglomerate Siemens while concerns about financing for takeovers and the U.S. housing market grew. Siemens was the heaviest weight on the pan-European FTSEurofirst 300 index , which closed 0.87 percent lower at 1,571.77, its lowest close since June 8. Shares in the German industrial group fell about 6 percent after Siemens said it would sell its VDO ...

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