Euro markets gently down at close

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Euro markets gently down at close

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European markets finished down across the board on worries that earnings will fail to justify recent rises. London’s FTSE closed 0,2, while in Paris the CAC 40 dropped just over one per cent. Frankfurt was similar, falling 1.15 per cent. One analyst said the markets were bumping along and may do so for months, as the worst of the recession may be over but recovery is still some way off.

Oil prices weakened as investors got the jitters over the prospects of recovery. One of President Obama’s advisers said Washington should consider a second stimulus package because the first was ‘a bit too small.’ Laura Tyson insisted she was speaking for herself, and not for the President.