Traders work at their screens in front of the German share price index DAX board at the stock exchange in Frankfurt January 23, 2015. REUTERS/Pawel Kopczynski/remote
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Banks and commodity producers helped drag European stocks lower as worse-than-expected Chinese import data reignited investor concern about growth prospects in the world's second-biggest economy.UBS Group AG lost 1.1 percent after Switzerland's Finance Ministry was said to plan requiring the country's biggest banks to have capital equal to about 5 percent of total assets. Glencore Plc fell 2.6 percent and Anglo American Plc lost 1.8 percent. Auto-related stocks were among the worst performers on the equity index, with VW AG sliding 2.1 percent after announcing a cut in investment spending, while Daimler AG and Continental AG dropped at least 1.3 percent. AXA SA led insurers lower, falling 1.9 percent after JPMorgan Chase & Co. cuts its rating to neutral from overweight.
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