European stocks down sharply

Aug 05, 2011 |

London

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Europe's main stock markets extended their losses on Friday, with both the London and Frankfurt dropping more than 2.7 per cent.

London's FTSE-100 index closed down 2.71 per cent to 5,246.99 points, while in Frankfurt the DAX dropped 2.78 per cent to 6,236.16 points.

In Paris, the CAC-40 slid 1.26 per cent to 3,278.56 points to chalk up a record 10th consecutive daily loss.

Elsewhere in Europe, Madrid eased 0.18 per cent, Amsterdam gave up 1.5 per cent, Brussels dropped 2.06 per cent and Swiss stocks fell 2.14 per cent.

For the week, London dropped by 9.77 per cent, Frankfurt slid 13.27 per cent and Paris lost 10.73 per cent.

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