European stocks fall after Wall Street slump

0 Comments | AFP, May, 2007

LONDON (AFP) — European stock markets slid on Friday after an overnight slump on Wall Street, that also sparked losses across Asian markets, dealers said.

US shares fell heavily on Thursday as weak sales figures at major retailers, including behemoth Wal-Mart, raised concerns about the strength consumer spending in the United States -- the world's biggest economy.

"Wall Street was a fair bit weaker ... and we're just playing catch up," said Robert Parkes, equity strategist at HSBC in London.

In late morning trade on Friday, the British capital's FTSE 100 index of leading shares dropped 0.34 percent to 6,502.00 points.

Frankfurt's DAX 30 sank 0.96 percent to 7,344.16 points and the Paris CAC 40 lost 0.73 percent to 5,969.11 in early afternoon deals....