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European markets slide in late trading


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European markets slide in late trading

Late Thursday afternoon saw European shares lose ground as data from America depressed sentiment.

Miners and energy stocks felt the heat the most, and metals led a downward trend in commodity prices. The principal culprit was a surprise contraction in America’s services sector in November. In company news Heineken, the world’s number three brewer gained over three percent on a trader’s “outperform” recommendation. Germany’s top European engineer Siemens dropped nearly six percent after reporting its first quarterly loss in a year. Speculation France’s biggest insurer Axa may be preparing a bid drove Irish Life and Permanent, Ireland’s biggest mortgage lender, over six percent higher.

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