European stock markets were stable at the close of play, with investors cautious not to get carried away by the recent rally.
In London the FTSE closed two thirds of a point down. Bank shares suffered as investors became nervous over a four billion euro sell-off of Barclays shares by Abu Dhabi’s royal family. Barclays itself lost 13 percent while Lloyds, HSBC and Deutsche Bank also slipped a few points. Car-makers made gains though led by Volkswagen. Frankfurt’s Dax and the CAC 40 in Paris closed on pretty much the same level as Monday. A euro was buying around 0.86 GBP or 1.42 US dollars. The cost of a barrel of Brent oil climbed to over 68 dollars.