European stocks reverse brief gains

European stocks reverse brief gains
AFP
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First Published: Tue, Mar 03 2009. 05 21 PM IST
Updated: Tue, Mar 03 2009. 05 21 PM IST
London: Europe’s main stock markets fell in midday trade on Tuesday, reversing brief gains after huge drops a day earlier on fears about the fallout from the financial crisis.
London’s FTSE 100 index of leading shares fell 1.47% to 3,572.67 points, Frankfurt’s DAX 30 fell 0.81% to 3,680.16 points and in Paris the CAC 40 slipped 0.34% to 2,572.61.
The FTSE 100 had ended Monday’s session at a six-year low, down more than 5%, as indices worldwide plunged on fears for the fate of some of the world’s biggest financial companies amid the global crisis, traders said.
US authorities on Monday announced new rescue funds for insurance giant AIG and British bank HSBC reported a record loss.
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First Published: Tue, Mar 03 2009. 05 21 PM IST
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