European stocks drop in early deals

0 Comments | AFP, September, 2005

LONDON (AFP) — European stock markets fell in early trading after a lacklustre performance by Wall Street overnight, as the auto sector headed south in Frankfurt.

The London FTSE 100 index lost 0.46 percent to 5,350.20 points, the Frankfurt DAX 30 slid 1.11 percent to 4,934.76 points and in Paris the CAC 40 dropped 0.52 percent to 4,468.56.

The DJ Euro Stoxx 50 index of leading eurozone shares declined 0.71 percent to 3,330.83 points.

The euro stood at 1.2303 dollars.

Autos were among the biggest decliners in Frankfurt, with Volkswagen shedding 1.70 percent to 44.40 euros, BMW losing 1.64 percent to 36.67 euros and DaimlerChrysler sliding 1.43 percent to 41.33 euros.

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