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Europe Roundup: 10-month low
by hlk Wed 03 Aug 2011, 07:56
LONDON: European shares fell yesterday to a 10-month low on worries that the global recovery was losing pace following a slew of disappointing economic data and concerns that a possible downgrade in the US could impede growth.
Miners, whose performance is highly correlated to economic growth, were standout losers, with the STOXX Europe 600 Basic Resources index down 1.9 pe rcent.
"There are concerns related to manufacturing slowing down as well as scepticism about the US deal," said Bob Parker, senior adviser at Credit Suisse.
The pan-European FTSEurofirst 300 index of top shares was down 0.9 per cent at 1,058.23 points at 1150 GMT.
The London stock market fell 0.57 per cent in late morning trade, Frankfurt shed 0.47 per cent and Paris was down 0.40 per cent. Madrid fell by 0.29 per cent and Milan lost 1.04 per cent. - Agencies
Miners, whose performance is highly correlated to economic growth, were standout losers, with the STOXX Europe 600 Basic Resources index down 1.9 pe rcent.
"There are concerns related to manufacturing slowing down as well as scepticism about the US deal," said Bob Parker, senior adviser at Credit Suisse.
The pan-European FTSEurofirst 300 index of top shares was down 0.9 per cent at 1,058.23 points at 1150 GMT.
The London stock market fell 0.57 per cent in late morning trade, Frankfurt shed 0.47 per cent and Paris was down 0.40 per cent. Madrid fell by 0.29 per cent and Milan lost 1.04 per cent. - Agencies
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