Europe: Shares retreat
LONDON: European stock markets retreated yesterday as traders banked profits from the previous day's rally, overlooking a positive German survey to concentrate on happenings within the US Federal Reserve.
London's FTSE 100 index fell 0.37 per cent to stand at 6,598.29 points in midday deals. Frankfurt's DAX 30 lost 0.22 per cent to 8,594.16 points and Paris' CAC 40 slipped 0.33 per cent to close at 4,138.48 points.
In the meantime, Frankfurt closed at a record-high 8,613 points on Monday. The widely watched investor confidence index calculated by the ZEW economic institute rose by 7.6 points to 49.6 points in September.
Meanwhile, the pan-European FTSEurofirst 300, index of Europe's largest 300 companies by market capitalization, had lost 0.4 per cent at 1012GMT to 1,254.44, having ended trading at 1,258.42 in the previous session. Agencies