LONDON, Sept 13: Europe’s main stock markets slid Thursday after the euro struck a record dollar high and oil prices surged above $80 a barrel in New York, threatening company profits, dealers said.London’s FTSE 100 index of leading shares fell 0.24 per cent to 6,290.90 points in late morning trade.

Nearing the half-way mark, Frankfurt’s DAX 30 dropped 0.50 per cent to 7,435.37 points and in Paris, the CAC 40 lost 0.17 per cent to stand at 5,498.42.

The DJ Euro Stoxx 50 index slipped by 0.62 per cent to stand at 4,184.41 points.

The euro hit a record high $1.3927 in European trade Thursday on expectations that the US Federal Reserve will next week trim interest rates from their 5.25-per cent level.

The most obvious losers from a euro trading near 1.40 dollars will be major eurozone exporters to the United States as they will obviously find their competitiveness impaired, Global Insight economist Howard Archer said in London.

Meanwhile, the price of New York crude oil scaled an historic high Wednesday on concerns over tight US supplies, dealers said.

New York’s contract for light, sweet crude for October delivery peaked at $80.18 a barrel, smashing the all-time record of $78.77 set on August 1.

In European stock market trading Thursday, the share price of British Airways dived 1.77 per cent to 389.5 pence as the airline faces the prospect of higher fuel costs.

In Paris, Air France plunged 2.13 per cent to 26.23 euros.

Elsewhere, home loan lenders continued to struggle on concerns over mortgage arrears among British borrowers. Alliance and Leicester shed 3.89 per cent to 926 pence and Northern Rock lost 3.79 per cent to 646.5 pence in London.

US stocks had drifted mostly lower Wednesday.—AFP