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5.30pm Markets Update

European stock markets closed lower this evening, with investors awaiting further figures later this week for clues to the health of the world economy.

London's FTSE 100 closed down 0.7% at 5,556, with BP losing 2.4% to 430p after issuing a €2 billion bond to help pay for the Gulf of Mexico oil spill. In Paris, the CAC lost 1.2% to 3,650, while in Frankfurt the DAX also dropped 1.2% to 6,134.

In Dublin, the ISEQ index ended up seven points (0.3%) at 2,669. Bank shares were little changed, with Bank of Ireland adding 2.8% to 66 cent, while building materials group CRH was up 1.2% at €12.04. Bookmaker Paddy Power rose 2.3% to €26.69, but insurer FBD lost 1.5% to €6.40.

On Wall Street, the Dow Jones was 0.9% lower at 10,730, while the Nasdaq was down 1.4% at 2,338. Markets were edgy ahead of a crucial unemployment report and company results later this week.

Earlier, Tokyo's Nikkei slid 0.3% to close at 9,381 on the back of lower banking shares with the market cautiously awaiting results of the Bank of Japan's two-day policy board meeting. Hong Kong's Hang Seng index gained 1.1% to finish at 22,619.