LONDON: European stock markets dropped yesterday after recent rallies, while the aviation sector took a knock as Emirates airline cancelled a major order of Airbus planes.
London’s FTSE 100 index of top companies fell 0.62 per cent to 6,830.64 points in afternoon trading, with losses limited by official data that revealed a further drop in British unemployment to a fresh five-year low point.
Frankfurt’s DAX 30 shed 0.95 per cent to 9,933.65 points. On Tuesday, the index breached above 10,000 points for the first time.
Paris’ CAC 40 was, meanwhile, down 0.59 per cent to 4,567.76 points yesterday after ending at its highest point since June 2008 a day earlier.
“News of a sudden order cancellation knocked back Airbus and Rolls Royce, and a second bolt from the blue came from Lufthansa, which issued a surprise downgrade to forecasts, knocking back the United Kingdom-listed airlines, too,” said Brenda Kelly, chief market strategist at IG traders. AFP
