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Shares slump in Europe


Shares slump in Europe


European stocks fell as declines by utilities and drugmakers outweighed gains by technology shares and mining companies. The world’s second largest utility GDF Suez lost almost 3 percent and Germany’s E.ON was down more than 9 percent.

David Keeble, Interest Rate Strategist at Calyon Credit Agricole feels there are signs of a better mood on the stock market: He said, “It’s very difficult to predict but we are starting to see I think a better feeling coming through. A little bit more optimism is creeping back. I am not really looking for that to heal rapidly, but I am looking for some better times ahead.”

Cap Gemini, Europe’s biggest computer services company was up almost 4 percent after IBM’s earnings topped analysts estimates. National Indexes decreased in ten of the 17 western European markets that were open for trading.

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