UpdateEurope stocks down amid uncertainty

23 January 2008 15:25  [Source: ICIS news]

LONDON (ICIS news)--European stocks fell further on Wednesday despite showing early signs of recovery from Monday’s meltdown.

 

London’s FTSE 100 index fell 3.4% (14:12 GMT) and Germany’s Dax was down 4.3% after both indices opened up on Tuesday’s close.

 

Europe’s major chemical companies suffered larger-than-average losses as the Dow Jones Euro Stoxx Chemicals index was trading down 4.1%.

 

German major BASF’s shares dropped 5.5%, Bayer dropped 3.7%, while Dutch coatings firm Akzo Nobel was down 5.3%.

 

On Monday, the London Stock Exchange suffered its first one-day fall since 2001 as the markets got the jitters over a potential recession in the US.

 

Asia markets had earlier showed signs of recovery, with Japan’s Nikkei 225 index closing up 2%.

By: Mark Watts
+44 20 8652 3214

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