Continued Losses in the U.S. Worry Investors in Europe
April 03, 2011
Stocks fell in London, Paris, Brussels, and Madrid amid concerns that a prolonged correction in the U.S. market will have a damping effect on global equity markets. German shares declined in electronic trading as weaker-than-expected corporate profits and exports outweighed the Bundesbank's news of possible cuts in key interest rates. Meanwhile, the Italian bourse closed lower as a number of index-linked shares began trading ex-dividend, and Swiss share prices fell as the Swiss franc rose sharply against the mark. A decline in pharmaceutical company Astra pulled Swedish stocks lower, while losses in heavyweights Royal Dutch petroleum and consumer-products group Unilever hurt the Dutch index. And in South Africa, technical problems with the automated trading system forced the Johannesburg Stock Exchange to close 43 minutes into the session. In dollar terms, the European sector of the Dow Jones World Stock Index dropped 1.07 to 141.23 Monday after gaining 0.78 on Friday. The world index as a whole fell 0.94 to 135.60, following Friday's loss of 0.17. Savings-and-loan and trucking shares led the Dow Jones Global Industry Groups, while securities and cable-broadcasting issues were among the laggards. European Stock Market Indexes Market Belgium
