European Stock Markets End Modestly Lower Amid Weak Crude Prices and Profit Warning

The European stock markets closed moderately lower on Monday as weaker crude prices and a profit warning from US giant Ford Motor Co weighed on oil majors and auto makers. The FTSE 100 index in London broke its four-day winning streak, while the DAX index in Frankfurt and the CAC-40 index in Paris also declined. Key players in the decline included Royal Bank of Scotland, Peugeot, and Volkswagen, while Societe General managed to close higher. The US dollar fell against major currencies, including the euro, yen, and pound sterling.

Key Takeaways:

• The FTSE 100 index in London closed down 0.21 percent or 10.4 points to 4,973.2 points, breaking a four-day winning streak.
• Royal Bank of Scotland was among the biggest blue-chip fallers, closing down 1.7 percent after a weekend newspaper reported the financial heavyweight was close to buying a 3 billion to 4 billion US dollars stake in Bank of China.
• Peugeot fell 1.1 percent after US rival Ford cut profit targets for this year, while Volkswagen and DaimlerChrysler shares also declined.
• Banks fared better in the markets, with Societe General closing 0.8 percent up.
• The US dollar fell against major currencies, including the euro, yen, and pound sterling, with the euro reaching 1.2993 US dollars, 0.5 percent up from 1.2912.

Statistics:

• FTSE 100 index decline: 0.21 percent or 10.4 points to 4,973.2 points.
• DAX index decline: 0.10 percent or 4.59 points to 4,396.09 points.
• CAC-40 index decline: 0.16 percent or 6.67 points to 4,117.62 points.
• Royal Bank of Scotland decline: 1.7 percent.
• Peugeot decline: 1.1 percent.
• US dollar decline against euro: 0.5 percent to 1.2993 US dollars.
• US dollar decline against Japanese yen: 0.5 percent to 107.75 yen.
• US dollar decline against pound sterling: 0.5 percent to 1.8918 US dollars.

Sources:

• Xinhua News Agency. [Copyright 2005 XINHUA NEWS AGENCY. News Provided by COMTEX (http://www.comtexnews.com)]