Dawn News

European shares slide

LONDON, Oct 10: European stock markets fell on Wednesday after a proposed mega merger beween EADS and BAE fell through and amid continued worries about the global growth outlook.

At the close, London’s FTSE 100 index of top companies ended the day down by 0.58 per cent at 5,776.71 points.

Frankfurt’s Dax 30 fell by 0.41 per cent to 7,205.23 points, while in Paris the CAC 40 gave up 0.50 per cent to 3,365.87 points.

In foreign exchange trading, the euro firmed to $1.2893 from $1.2881 late in New York on Tuesday. Gold prices slipped to $1,763 an ounce on the London Bullion Market from $1,774 an ounce Tuesday.

US stocks dropped amid investor caution after Alcoa said that it saw aluminum demand falling as global economic growth slows.

In midday trade the Dow Jones Industrial Average was down 0.56 per cent, the S&P 500 slipped 0.25 percent, and the tech-rich Nasdaq was lower as well, losing 0.26 percent.—AFP

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