May 31, 2006	Wednesday	Jumadi-ul-Awwal 3, 1427

LONDON, May 30: European stock exchanges posted sharp falls on Tuesday as investors, worried about oil prices, interest rates and consumer confidence in the United States, unleashed a wave of selling.

The London FTSE 100 index shed 2.40 per cent to close at 5,652 points while in Paris the CAC 40 fell 2.42 per cent to 4,893.87. In the Frankfurt the Dax lost 2.30 per cent to end the day at 5,622.43.

The Euro Stoxx 50 index of leading eurozone shares fell 2.41 per cent to 3,590.91.

Wall Street also came under fresh selling pressure as investors returned from a three-day weekend to confront higher oil prices and a shakeup at the top of the United States president’s economic team.

—AFP