Stocks Surrender Early Gains As Rise in U.S. Market Falters
April 01, 2011
European stocks started sharply higher as investors cheered the Dow Jones Industrial Average's 87-point advance Thursday. But much of those gains were quickly erased as Wall Street resumed its recent downward trend, posting a loss of roughly 40 points near the close of trading in Europe. The Dow finished Friday's session down 37.36 at 5426.82 Stocks edged higher in Brussels in extremely volatile trading associated with the expiration of futures and options. Strength in the local bond market boosted shares in Madrid, while blue-chip stocks led the advance in Stockholm. But some disappointing reports about corporate sales wiped out early gains on the French stock market. Share prices fell in late-afternoon electronic trading on the Frankfurt Stock Exchange after closing higher in earlier floor trading, while prices remained in positive territory through the close in London. Prices also ended lower in Milan, as several blue chip companies prepared to pay out dividends. In dollar terms, the European sector of the Dow Jones World Stock Index added 0.72 to 142.36 after gaining 0.42 a day earlier. The world index as a whole lost 0.17 to 136.56 following Thursday's gain of 1.42. Precious-metal and mining shares led the Dow Jones Global Industry Groups, while footwear and entertainment issues were among the laggers. European Stock Market Indexes Market Belgium
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