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Europe Roundup: Losses continue
by hlk Thu 04 Aug 2011, 08:06
FRANKFURT: European shares extended losses yesterday, led by France's Societe Generale which fell more than 7 per cent after the bank warned it might miss 2012 profit goals.
Italy's blue-chip index rebounded from earlier losses and traded up 0.9 per cent by 1125 GMT.
The FTSEurofirst 300 index of top European shares was down 0.4 per cent at 1,044.90 points, extending a three-session losing streak.
Across Europe, Britain's FTSE 100 was down 1.1 per cent; Germany's DAX and France's CAC40 fell 0.7 and 0.6 per cent respectively.
"This week's decisions on Capitol Hill can only be regarded as a first small step of a future comprehensive plan," UniCredit analyst Tim Brunne said. "The US is at risk of getting the European disease of a piecemeal approach to tackling its debt sustainability issues," he added. - Reuters
Italy's blue-chip index rebounded from earlier losses and traded up 0.9 per cent by 1125 GMT.
The FTSEurofirst 300 index of top European shares was down 0.4 per cent at 1,044.90 points, extending a three-session losing streak.
Across Europe, Britain's FTSE 100 was down 1.1 per cent; Germany's DAX and France's CAC40 fell 0.7 and 0.6 per cent respectively.
"This week's decisions on Capitol Hill can only be regarded as a first small step of a future comprehensive plan," UniCredit analyst Tim Brunne said. "The US is at risk of getting the European disease of a piecemeal approach to tackling its debt sustainability issues," he added. - Reuters
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