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Recession fear still clouds European stocks

(Xinhua)

10:45, August 20, 2011

PARIS, Aug. 19 (Xinhua) -- Indexes of major European exchanges closed in red on Friday as rising fear over global economic recession still keep investors on edge.

After a dark session on Thursday, Paris shares ended down by 1.92 percent to 3,016 points. France's CAC 40 plunged by 6.13 percent in a choppy week. Bank sector, which dominates Paris exchange, fell by 3.52 percent, pulled down by mounting worries about the health of European banks.

Panic atmoshphere clouded also transactions in London which registerd 1.01-percent loss. Franckfurt's stocks fell by 2.19 percent while those of Milan declined by 2.46 percent.

On Friday, the European index, the EuroStoxx fell down by 2.15 percent and by 6.25 percent in a week.

Volatility of European markets jumped this weak where the region's markets reported heavy losses reminding 2008 global downturn.

Analysts said combined concerns on weak growth in the world's major economies and on eurozone debt crisis fuelled investors' fear and provoked a major selloff.

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