EUROPEAN STOCKS SANK ON FRIDAY, TAKING THEIR LEAD FROM A LACKLUSTRE PERFORMANCE ON WALL STREET AND IN ASIA AS INVESTORS CONTINUE TO WORRY OVER SOARING METALS AND OIL PRICES, REUTERS REPORTED. TELECOMS AND BASIC RESOURCES STOCKS DROPPED AS EUROPEAN SHARES EXTENDED THURSDAY'S SLIDE, WHILE STEELMAKER THYSSENKRUPP ROSE AFTER RAISING ITS FORECASTS. BY 0727 GMT, THE PAN-EUROPEAN FTSEUROFIRST INDEX OF 300 LEADING SHARES WAS DOWN 0.6 PERCENT AT 1,383.2 POINTS, ITS LOWEST IN MORE THAN A WEEK. THE SLIDE FOLLOWS A 1.5 PERCENT DROP IN TOKYO'S NIKKEI, A 1.2 PERCENT FALL IN THE DOW JONES INDUSTRIAL AVERAGE AND A 2.1 PERCENT DROP ON NASDAQ. THE DROP WAS THE SHARPEST IN NEARLY FOUR MONTHS FOR U.S. STOCKS, WHERE A $1 CLIMB IN OIL PRICES, A NEW PEAK FOR COPPER AND A 26-YEAR HIGH FOR GOLD ALSO WEIGHED ON SENTIMENT.
