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European stocks follow Asian markets' plunge

Text by REUTERS

Latest update : 2008-12-10

After a miserable day in Asian trading, European stocks fell European shares nearly 6 percent in late morning trade on Monday, led by banks, oils and miners. Chris Moore's analysis.

Watch our Top Story: "Europe split over financial crisis?"

 

LONDON - European shares slumped nearly 6 percent in late morning trade on Monday, led by banks, oils and
miners.
 

At 1010 GMT, the FTSEurofirst 300 index of leading European  shares was down 5.5 percent at 1,029.24, having fallen as far as  1,025.42 points, or 5.9 percent.
 

Across Europe, Britain's FTSE 100, Germany's DAX and  France's CAC-40 were down between 5.8 and 6.3 percent.
 

Financials were lower after governments across Europe were forced over the weekend to take measures to prop up banks and insurers.
 

Anglo Irish Bank was down 19.4 percent; Aegon was down 19.7 percent; Dexia was off 19.4 percent.
 

Miners were lower, as metals prices fell. Kazakhmys and Eurasian Natural Resources Corp. were 18.4 and 19.5 percent
lower respectively.
 

With oil falling 4 percent to just over $90 a barrel, BP, was down 5.8 percent; ENI was off 6.8 percent.

Date created : 2008-10-06

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