Don't miss

Replay


LATEST SHOWS

EYE ON AFRICA

Togo : will president Faure Gnassingbe win a third 5-year term ?

Read more

MEDIAWATCH

Controversy reigns 100 years after the Armenian genocide

Read more

THE WORLD THIS WEEK

Migrant Deaths: Politicians Divided after Emergency EU Summit

Read more

THE WORLD THIS WEEK

The G-Word: Turkey and the Armenian Genocide

Read more

FRANCE IN FOCUS

What will the new French healthcare bill change?

Read more

#TECH 24

Space Special: Happy Birthday, Hubble!

Read more

FOCUS

Video: Meeting Marseille's Armenian community

Read more

REPORTERS

Saving French soldiers' WWI trench carvings

Read more

ENCORE!

Armenia, 100 years on

Read more

Europe's markets drop on US job loss news

Latest update : 2008-12-05

After figures revealed the US economy lost more than half a million jobs in November, European markets showed sharp losses on Friday, with the London FTSE, the Paris CAC and Frankfurt DAX all losing between two and five percent.

AFP - European markets showed sharp losses on Friday, with the downturn accelerating after figures showed the US lost more than half a million jobs in November.
  
The London FTSE 100 index showed a loss of 2.74 percent after the data was published before pulling back slightly to show a fall of 2.37 percent to 4,064.97 points.
  
In Paris, the CAC 40 was down 4.46 percent to 3,020.16 points while in Frankfurt the DAX index lost 3.47 percent to 4,406.03 points.
  
The Vienna stock exchange's blue-chip ATX index was showing a loss of 5.07 percent or 89.39 points to 1,673.58 points.
  
The US economy lost a stunning 533,000 jobs in November and the unemployment rate jumped to a 15-year high point of 6.7 percent, the Labor Department said Friday.
  
The monthly report on non-farm payrolls, seen as one of the best indicators of economic momentum, highlighted the severe retrenchment by companies in the face of a struggling economy and tight credit.
  
The number of job losses was much higher than the 325,000 expected by private forecasters.
  
The report also included a sharp upward revision in the number of job losses in the prior two months: October saw a loss of 403,000 jobs (up from an earlier estimate of 240,00) and September job losses were revised up to 320,000 from 284,000.

Date created : 2008-12-05

COMMENT(S)