European shares close modestly in the red, but well off session lows. Stoxx 50 -0.7%, Germany...

|By:, SA News Editor

European shares close modestly in the red, but well off session lows. Stoxx 50 -0.7%, Germany -0.8%, France -0.4%, Italy -0.8%, Spain -1.3%, U.K. -0.6%. Losses like this may have rate a stronger adjective than "modestly," but after 2011's gyrations, it hardly seems worth it. Euro +0.2% at $1.3230.