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European shares down as growth fears persist


European shares down as growth fears persist


European shares closed down on Thursday as fears about the global economy resurfaced.

The banks suffered HSBC, Barclays and Commerzbank all down. Data showing a upsurge in European unemployment to its highest level in 10 years, added to concerns that the recovery is a fragile animal. Energy companies also dropped as crude oil prices fell. Across Europe the FTSEEurofirst closed down as did the German DAX and the French CAC 40. BAE SYSTEMS Europe’s largest defence contractor, fell 5.3 percent after the Serious Fraud Office said it wished to prosecute the company on bribery charges.

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