Tuesday, October 9, 2012

European shares slip as IMF cuts global growth forecasts

LONDON — European stock markets fell Tuesday after the International Monetary Fund cut its forecasts for global economic growth, while sentiment was also dogged by Spanish bailout speculation, dealers said.

In morning deals, London's benchmark FTSE 100 index of top companies slid 0.23 percent to 5,828.30 points, Frankfurt's DAX 30 shed 0.49 percent to 7,255.48 points and in Paris the CAC 40 lost 0.14 percent to 3,401.71.

Madrid's Ibex 35 index meanwhile declined by 0.11 percent to stand at 3,402.86 points, as rising Spanish bond yields also sparked renewed concern over a potential bailout.

In foreign exchange activity, the euro dipped to $1.2930 from $1.2968 late in New York on Monday.

Asian markets were mixed on Tuesday, with concerns over Europe's debt crisis overshadowing strong gains in Shanghai and Hong Kong fuelled by stimulus hopes. Read More