Friday, March 2, 2012

Major Stock Markets Continue To Slip

Europe's leading stock markets continued to decline Monday, butsprang back from their lows as investors saw signs of rebound forWall Street following its massive losses last Friday.

London's benchmark FTSE 100 ended 183.5 points or three percentlower at 5994.6, having recovered from a six-month, intra-day low of5915.2 at the start of trade.

Technology shares swung wildly during the session, starting theday with sharp losses only to regain them at signs of life in theNasdaq.

Highlighting the tech rebound was British Internet securityprovider Baltimore Technology, which fell 24 percent in earlytrading but ended the day as the second-biggest FTSE gainer, up 12.3 percent.

However, FTSE 100 losers outpaced the gainers by nearly nine toone, with volume at a decent 1.6 billion shares in official trade.

Among market heavyweights, mobile phone operator VodafoneAirTough, the FTSE 100's largest component, lost 7.6 percent anddrug maker Glaxo Wellcome was 2.2 percent lower.

The Xetra Dax in Frankfurt fell 27.69 points, or 0.4 percent,shares of Deutsche Telekom's Internet unit T-Online bolsteredsentiment among German tech shares.

The CAC 40 in Paris just missed closing in the black,down 0.1percent, or 5.17 points, at 6060.54. The blue-chip index, made up ofmany tech, media and telecom shares, fell by as much as 5.2 percentearly in the session.

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