|
Paris shares down sharply midmorning as bearish outlook gains ground
"Share prices were down sharply in morning trading, falling below the trading range in place since last November as the constant stream of discouraging corporate outlooks cut further into hopes of an economic recovery for later this year, dealers said."
"The euro climbed to 0.8695/$8700 from 0.8665/$75 late yesterday, as the dollar slipped in tandem with yesterday's rout on Wall Street indices, dealers said."
"Warnings of lower than expected profits ... added to the bearish sentiment growing on investors."
"Things are getting worse and worse," said one Paris trader. "On the French index we've just broken a big support at 4,380 points, and that's not good at all-on a chart basis, we're going to go down to 4,000 quickly."
1:27:53 PM 
|
