European stock markets sink

AFP, June, 2008

LONDON (AFP) — European equities fell sharply Wednesday, mirroring a poor overnight US showing, as energy and mining firms were hammered by weakening oil and metals prices, while banks continued to suffer from credit worries.

London's FTSE 100 index of leading shares fell 1.61 percent to 5,960.40 points in late morning trade.

Frankfurt's DAX 30 index reversed 1.42 percent to 6,919.18 points near the half-way stage and the Paris CAC 40 index dropped 1.86 percent to 4,890.82.

The Euro Stoxx 50 index of top eurozone shares erased 1.61 percent to stand at 3,677.08 points.

The European single currency stood at 1.5463 dollars.

US stocks had lost ground Tuesday as renewed jitters about the banking and finance sector hit investor sentiment, traders...