European stock markets closed lower this evening, with bank and oil shares performing poorly. A lower forecast from US retailer JC Penney fuelled worries about consumer spending and hit other retail shares.
In London, the FTSE ended down 25 points at 5,693. British Airways lost almost 3% to 240p as problems at its new terminal at Heathrow led to more flight cancellations. Among retailers, Marks & Spencer was also down 3% at 397p. In Paris, the CAC closed down 0.5% at 4,696 and in Frankfurt the Dax dropped 0.3% to 6,553.
In Dublin, the ISEQ index of Irish shares fell 95 points to end at 6,153. Independent News & Media jumped 14 cent to €1.98 a day after the company reported strong annual pre-tax profits. Financial stocks were weaker, with Irish Life & Permanent losing 50 cent to €12.30, while Ryanair fell eight to €2.80.
On Wall Street, the Dow Jones was down six points at 12,297 and the Nasdaq was up two at 2,283, helped by a US government report which revealed only a small rise in consumer prices last month. In Asia, Japan's Nikkei average rose 216 points, or 1.7%, to 12,280 as investors bought to raise their portfolio value in the second-last session of the financial year.
