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Wednesday 26th August

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Wednesday 26th August

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European shares finished the day down as investors shrugging off better-than-expected German economic data.

Other influences included the fact that new orders for longer lasting US manufactured goods were not as good as had been predicted by economists but sales of new homes in the United States came in better than had been expected. There were also hints from the Chinese government that it will increase efforts to rein in its economy. With oil prices tumbling because of rising stockpiles of US crude the energy sector suffered along with mining companies. French bank Natixis soared 39 percent after its parent company said it will guarantee around 35 billion euros worth of toxic assets at the investment bank.