Markets continue to struggle

Another day of economic gloom across Europe led to the financial markets falling before they closed last night.

The contraction of Ireland’s economy, a Fitch ratings agency warning that it could downgrade six eurozone nations, a rise in Spanish regional debt and the limited success of talks to get Greece’s private creditors to take losses on their bonds contributed to the fall.

After trading higher most of the day, European stocks closed lower.

Hide Ad
Hide Ad

Britain’s FTSE shed 0.3 per cent to 5,387.34 and Germany’s DAX lost 0.5 per cent to 5,701.78.

France’s CAC-40 closed 0.9 per cent lower at 2,972.30 – its losses were driven in part by a report from the national statistics agency predicting a recession in the country over this quarter and the next.

TOm peterkin