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Markets: 17th November

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Markets: 17th November

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As investors paused for breath, European shares ended lower on Tuesday after hitting a 13-month high the day before.

A smaller-than-expected rise in US industrial production was one factor pulling down the indexes. It was up just 0.1 percent in October as car manufacturers scaled back following the end of government incentive programmes. Mining companies were under pressure from lower metal prices as the US dollar rebounded from 15-month lows after Federal Reserve Chairman Ben Bernanke made rare comments about the value of the currency. Banks were big losers as prominent US analyst Meredith Whitney made bearish comments about the sector. Standard Chartered, HSBC, Barclays, BNP Paribas, Societe Generale, Credit Agricole and UBS all fell.