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A businessman uses his smartphone before a share prices board in Tokyo yesterday. Japan’s share prices dropped 341.72 points to close at 15,407.94 points at the Tokyo Stock Exchange, dragged down by a stronger yen and profit-taking.
LONDON: Europe’s main stock markets sank yesterday , with the banking sector sliding after the European Union slapped huge fines on six banks over rate-rigging. Sentiment was also hit after eurozone data highlighted falling retail sales, and slower-than-expected expansion in the manufacturing and services sector.
London’s FTSE 100 index ended the day down 0.34 percent at 6,509.97 points, while Frankfurt’s DAX 30 fell 0.90 percent to 9,140.63 points and the CAC 40 in Paris shed 0.57 percent to 4,148.52 points. Madrid dropped 0.67 percent and Milan slid 0.27 percent.
The EU said that it has imposed a record $2.3bn in fines on six institutions for rigging key interest rates that affect transactions around the world.
In foreign exchange activity, the euro eased to $1.3555 from $1.3589 in New York on Tuesday. The dollar was steady at 102.46 yen from 102.48. The euro was flat at 82.89 pence against the British pound, which was lower at $1.6353.
US stocks treaded water on mixed economic data. The Dow Jones Industrial Average edged up 0.01 percent to 15,915.97 points in midday trade. The broad-based S&P 500 0.50 added 0.01 percent to 1,795.27, while the tech-rich Nasdaq Composite Index rose 0.16 percent to 4,043.76. AFP
