Europe shares slip
Friday, 9 November 2007
LONDON, Nov 8 (Reuters): European shares fell sharply in early trade Thursday, tracking US and Asian markets, as credit fears intensified, hurting financials.
Index of top European shares was down 1.25 per cent at 1,524.20 points from the indicated close of 1,543.55 Wednesday, when the London Stock Exchange suffered data distribution problems and delayed its auction close.
Banks were major losers amid general investor queasiness, with Dutch Belgian lender Fortis tumbling 5.80 per cent after third-quarter earnings slipped.
Brewer InBev tumbled 8.10 per cent after posting profits below expectations, while industrial group Siemens gained 3.20 per cent after its core units delivered a strong performance in the quarter.
Investors ploughed through a flurry of corporate results and geared up for the European Central Bank (ECB) and the Bank of England, both of which are expected to keep rates constant later in the day.
Index of top European shares was down 1.25 per cent at 1,524.20 points from the indicated close of 1,543.55 Wednesday, when the London Stock Exchange suffered data distribution problems and delayed its auction close.
Banks were major losers amid general investor queasiness, with Dutch Belgian lender Fortis tumbling 5.80 per cent after third-quarter earnings slipped.
Brewer InBev tumbled 8.10 per cent after posting profits below expectations, while industrial group Siemens gained 3.20 per cent after its core units delivered a strong performance in the quarter.
Investors ploughed through a flurry of corporate results and geared up for the European Central Bank (ECB) and the Bank of England, both of which are expected to keep rates constant later in the day.