LONDON, July 30: Stocks fell back throughout Europe on Tuesday as weak economic data on both sides of the Atlantic raised doubts about the durability of the recent revival in the markets’ fortunes.

Across the 12-nation euro zone the Euro Stoxx 50 index fell 1.8 per cent to 2,675.3 points after gaining over seven per cent on Monday.

The slide followed a renewed downturn on Wall Street where weak data on US consumer confidence prompted fears that the weakness of stock markets could trigger a double-dip recession in the world’s leading economy.

“It is disappointing ... It means slower spending,” warned Credit Suisse First Boston economist Kathleen Stephansen.

The Dow Jones industrials index, which on Monday recorded its third-biggest points gain in history, fell 1.2 per cent to 8,610.3 points in early deals while the Nasdaq composite index tumbled 0.8 per cent to 1,324.2.

And across Europe the British FTSE 100 index of leading shares fell 0.5 per cent to 4,180.9 points, the German DAX 30 gave up 2.1 per cent to 3,777.4 points and the French CAC 40 index slipped 0.5 per cent to 3,379.9 points.

Shares also fell 1.6 per cent in Amsterdam, 5.1 per cent in Madrid, and 1.1 per cent in Zurich, but rose 0.9 per cent in Stockholm and 0.1 per cent in Milan.

The slide was accompanied by the release of weak economic data in both Britain and France — Europe’s second and third biggest economies.

Confidence among British consumers fell in July to its lowest level since December according to the latest survey conducted by market research group Martin Hamblin GfK, while French statistics office INSEE reported a drop in business confidence in July.

Among individual movers BP stock rose 0.5 per cent to 482 pence after the British oil major said second-quarter profit fell 36 per cent on the same period a year earlier to $2.181 billion.

But shares in Spanish-Argentine rival Repsol YPF slipped 0.2 per cent to 12.22 euros as first half results failed to please.

British American Tobacco stock rose 3.0 per cent to 708.5 pence after the company posted an 11-per cent rise in first-half profits, and lifted its dividend 10 per cent.

And shares in Air France rallied 4.1 per cent to 14.25 euros as investors welcomed news the French government plans to cut its 54.4-per cent stake in the national carrier to below 20 per cent.

Shares in Volkswagen rose 3.0 per cent to 46 euros after the German car-maker said pre-tax profit fell 4.1 per cent to 2.263 billion euros in the first half, beating analysts’ expectations.—AFP