European stocks slip

European shares ended a choppy session slightly lower on Thursday after US weekly jobless claims surged again and with investors feeling that the European Central Bank had signalled it was unlikely to raise euro zone rates again any time soon.

But some of Europe’s major financial groups including UK bank Barclays and German insurer Allianz released results reflecting continuing damage from the credit crunch. Barclays’ shares were up 1.6% despite unveiling more writedowns as its results beat expectations; other European bank shares fell. Fuel sensitive stocks slipped as oil prices rose on supply concerns.

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