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Global stock markets, euro fall from highs; Europe woes in focus

Published on Feb 4, 2013 11:09 PM

LONDON (AFP) - European stock markets plunged on Monday and the euro dropped against the dollar amid political tensions in Spain and Italy and as traders locked in profits ahead of interest rate decisions due this week.

London's FTSE 100 index of top companies fell by 1.18 per cent to stand at 6,272.45 points in afternoon trading. Frankfurt's DAX gave up 1.42 per cent to 7,722.46 points and in Paris the CAC lost 1.56 per cent to 3,714.72 points.

Madrid's IBEX 35 decreased by 1.83 per cent in value to trade at 8,079.40 points, while Milan's FTSE-Mib slumped 2.80 per cent.

Most European stock markets had posted strong gains last Friday on reassuring US jobs data, but Madrid was hit by news of falling profits at the country's crisis-hit banks, dealers said.

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