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Europe Roundup: Bank stocks reel
by hlk Fri 14 Oct 2011, 07:56
LONDON: European stocks fell yesterday, with the banking sector reeling on heightened fears over its exposure to the eurozone debt crisis and the potential impact of more recapitalisation.
Investor sentiment was also hurt after the European Central Bank warned of downside risks to the economy, citing tensions in the euro area.
In early afternoon trade, London's benchmark FTSE 100 index fell 0.97 per cent to 5,389.06 points, Frankfurt's DAX 30 dropped 1.45 per cent to 5,907.61 points and in Paris the CAC 40 slid 1.23 per cent to 3,189.93.
Earlier, at 1135 GMT, the FTSEurofirst 300 index of top European shares was down 1 per cent at 967.03 points. The index inched higher earlier in the session but ran into strong resistance at 983.4 points. - Agencies
Investor sentiment was also hurt after the European Central Bank warned of downside risks to the economy, citing tensions in the euro area.
In early afternoon trade, London's benchmark FTSE 100 index fell 0.97 per cent to 5,389.06 points, Frankfurt's DAX 30 dropped 1.45 per cent to 5,907.61 points and in Paris the CAC 40 slid 1.23 per cent to 3,189.93.
Earlier, at 1135 GMT, the FTSEurofirst 300 index of top European shares was down 1 per cent at 967.03 points. The index inched higher earlier in the session but ran into strong resistance at 983.4 points. - Agencies
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