European stock markets end lower
Friday, 4 January 2008
European equity markets moved lower in early trade Thursday as investors remained cautious in the face of record oil prices and slowing economic growth, according to Internet.
The FTSE Eurofirst 300 was down 0.50 per cent to 1,4879.53, Frankfurt's Xetra Dax fell 0.40 per cent to 7,914.95, the CAC 40 in Paris shed 0.50 per cent 5,521.81 and London's FTSE 100 slipped 0.20 per cent to 6,409.45.
Retailers drove the losses as the weak economic outlook and disappointing sales at UK fashion group Next weighed on the sector.
Inditex, the Spanish fashion retailer which owns the Zara chain, fell 2.90 per cent to EU40.96, Swedish rival H&M lost 1.60 per cent to SKr379.50, while France's PPR lost 1.40 per cent to EU107.61.
Oil prices hit US$100 a barrel for the first time Wednesday and remained well above $99 Thursday. Airlines and other stocks with high exposure to fuel costs added to the weakness.
Ryanair, the Irish budget carrier, fell 5.0 per cent to EU4.36, while Lufthansa lost 1.10 per cent to EU18 and Air France-KLM shed 1.40 per cent to EU23.20.
The FTSE Eurofirst 300 was down 0.50 per cent to 1,4879.53, Frankfurt's Xetra Dax fell 0.40 per cent to 7,914.95, the CAC 40 in Paris shed 0.50 per cent 5,521.81 and London's FTSE 100 slipped 0.20 per cent to 6,409.45.
Retailers drove the losses as the weak economic outlook and disappointing sales at UK fashion group Next weighed on the sector.
Inditex, the Spanish fashion retailer which owns the Zara chain, fell 2.90 per cent to EU40.96, Swedish rival H&M lost 1.60 per cent to SKr379.50, while France's PPR lost 1.40 per cent to EU107.61.
Oil prices hit US$100 a barrel for the first time Wednesday and remained well above $99 Thursday. Airlines and other stocks with high exposure to fuel costs added to the weakness.
Ryanair, the Irish budget carrier, fell 5.0 per cent to EU4.36, while Lufthansa lost 1.10 per cent to EU18 and Air France-KLM shed 1.40 per cent to EU23.20.