• Most Popular
  • Most Shared

Europe stocks extend losses as banks, miners fall

Wed Nov 19, 2008 4:04am EST

Stocks

   

LONDON, Nov 19 (Reuters) - European shares extended falls in early trade on Wednesday, led by banks and miners, as worries about a deep recession continued to rattle investors.

Stocks  |  European Markets  |  Global Markets

At 0900 GMT, the FTSEurofirst 300 .FTEU3 index of top European shares was down 1.1 percent at 836.29 points, having fallen as low as 834.23.

The index rose nearly 1 percent on Tuesday but has lost more than 44 percent this year, battered by a credit crisis and impending or actual recession in several developed economies.

BNP Paribas (BNPP.PA), Barclays (BARC.L), Commerzbank (CBKG.DE), Deutsche Bank DBGKn.DE and UBS UBS.AG fell 3.8 to 4.5 percent.

Across Europe, Britain's FTSE 100 .FTSE, Germany's DAX .GDAXI and France's CAC-40 .FCHI fell 0.8 to 1.7 percent.

Among miners, Anglo American, Rio Tinto (RIO.L), Vedanta Resources (VED.L), Lonmin (LMI.L) and Xstrata (XTA.L) fell 3.6 to 6.7 percent.

Vodafone (VOD.L) and HSBC (HSBA.L) fell 4 and 3.8 percent respectively on going ex-dividend. (Reporting by Brian Gorman)



More from Reuters

Photo

Investors seen jumping the gun on airport security

BANGALORE (Reuters) - Investors' optimism surrounding the shares of airport security systems makers could be premature as interest in the companies' products after the Christmas Day plane scare is not expected to translate into immediate orders.

A hiring sign hangs in a window at PETCO in Falls Church, Virginia June 5, 2009.REUTERS/Kevin Lamarque

Dust off your resumes

Employers say they'll be adding headcount in the coming year. Here's where the jobs will be.  Full Article 

Tiger Woods blows on his putter on the 10th hole during final round play of the Tournament Players Championship golf tournament at the TPC at Sawgrass in Ponte Vedra, Florida May 13, 2007.

Tiger's $12 billion scandal?

Shareholders of Tiger Woods' sponsors discover that along with the upside, there are big downside risks, too, a study shows.  Full Article