18 Mar 2009

Europe shares fall

6:31 am on 18 March 2009

European shares fell on Tuesday after rising for five consecutive sessions, after metal prices dropped.

The FTSEurofirst 300 index of top European shares provisionally closed 0.9% lower at 714.48 points. The index is down 14% to date this year.

The STOXX 600 was also down 0.9% at 171.69 points.

Miners lost ground after copper declined 1.7%, nickel dropped 1.5 and zinc slipped 2%. Gold also came under pressure.

BHP Billiton, Rio Tinto, Anglo American, Antofagasta and Eurasian Natural Resources fell between 2.7% - 9.3%.

However, banks were mostly higher: HSBC rose 4%, Societe Generale rose 3.9% and Dexia was up 3.9%,

In Paris, the CAC 40 fell 0.87% at 2,767.28 points and in Frankfurt the DAX lost 1.4% to 3,987.77 points.

In London, the FTSE 100 index of leading shares was down 0.18% to 3,857.10 points.