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Eurostocks hit for second session
Published in Saudi Press Agency on 28 - 11 - 2004

European stocks fell for a second straight session on Monday, hit by a weak dollar and an uptick in oil prices, while Britain's BAE Systems slid 4 percent on the prospect of falling profit margins at one of its businesses.
Swiss bank Credit Suisse fell 1.4 percent ahead of an investor day on Tuesday, when analysts expect the company to announce a dramatic overhaul that could include hundreds of job cuts.
Stocks extended early declines on news of an attack on U.S. interests in Saudi Arabia and oil rose near to $43 a barrel from 3-month lows. Energy company BP put on a slim gain.
By 1200 GMT, the FTSEurofirst 300 index of top European stocks was down 0.46 percent, falling back from a near 2-1/2 year high of 1,041.93 points struck last week.
Financial markets took a beating on Friday after unexpectedly weak U.S. job growth figures for November knocked confidence in the world's biggest economy.
"The dollar is still getting a hit and unless we see some respite, stocks are unlikely to head up," said a dealer.
The DJ Euro Stoxx 50 index shed 0.2 percent to 2,906.1 points. Across Europe, the FTSE 100 index in London fell 0.53 percent, the German DAX was off 0.2 percent and the Paris CAC-40 shed 0.36 percent. --More 2331 Local Time 2031 GMT


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