Monday, November 14, 2011

European shares extend losses led by financials

FRANKFURT (Nov 14):'' European shares extended losses on Monday after an auction of up to 3 billion euros ($4.1 billion) of five-year Italian bonds failed to provide relief to investors during a choppy session.

Shares briefly recovered after the auction, but the record yield brought jitters back in the market, traders said.

At 1208 GMT, the FTSEurofirst 300 index of top European shares was down 1.1 percent at 973.14 points. The STOXX Europe 600 Financial Services index lost 2 percent.

Germany's DAX was down 1.1 percent, while France's CAC40 lost 1.4 percent and Britain's FTSE 100 shed 0.9 percent. Italy's FTSE MIB fell 1.8 percent. - Reuters

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