European markets down despite rate cut
16-01-2009
European markets were not impressed by the cut in European interest rates, with equities slipping for the seventh session in a row, as financial stocks struggled to find a floor following mounting sector losses and energy shares tracked falling crude oil prices. London's 100-share index slipped 59 points - or 1.4 percent - to 4,121, its lowest close in over a month. The DAX in Frankfurt and Paris CAC both fell about 2 percent to 4,336 and 2,995, respectively. Deutsche Postbank slid 19 percent, Lloyds TSB dropped 12 percent, and HSBC fell a further 7 percent.
