European shares lower on falling oil prices

0 Comments | AFP, September, 2008

LONDON (AFP) — Europe's leading stock exchanges fell on Wednesday after Wall Street had closed lower overnight, dragged down by concern over falling oil prices.

Equities fell "after a significant shift of opinion on Wall Street last night about the benefits of lower oil prices," said CMC Markets dealer Matt Buckland.

He noted that slowing oil prices caused by falling demand "serves as something of a reminder" about the weak global economy.

By late morning trade, London's FTSE 100 index of top shares showed a loss of 1.88 percent at 5,515.20 points.

Nearing the half-way stage on Wednesday, Frankfurt's DAX 30 was down by 0.83 percent to 6,464.37 points and in Paris the CAC 40 shed 1.33 percent to 4,478.83.

The DJ Euro Stoxx 50 index of leading...