London, March 24: European stock prices were hit in early trading Wednesday by sharply lower closing prices on Wall Street and in Asia overnight. Following slides of 2.2 per cent in New York, 3.1 per cent in Tokyo and 3.0 per cent in Hong Kong, the London FT-SE 100 index dived 78.5 points to 5,982 points, a loss of 1.29 percent. Falling prices outnumbering gaining by 83 to 16.Losses spread throughout Europe as investors mulled the chances of further reverses to Wall Street's surging market. However trading was calm despite the mounting confrontation between NATO and Yugoslavia.
The Frankfurt X-DAX index fell 0.68 per cent to 4,837.59 points. The Paris CAC 40 index fell 0.35 per cent to 4,065.31 points. The Amsterdam AEX index fell 1.31 per cent to 525.7 per cent. Cable and Wireless rose 9.5 pence to 740 pence a share after it announced with Its US partner Mediaone plans to sell off mobile phone operator One-2-One.
Orange and Vodafone mobile phone operators fell respectively 13 pence to 886 pence ashare and five pence to 1,023 pence a share. Barclays fell 23 pence to 1,715 pence a share, Lloyds TSB fell eight pence to 890 pence a share, NatWest fell 14 pence to 1,395 pence a share, Bank of Scotland fel L 2.5 pence to 814 pence a share and HSBC fell six pence to 1,884 pence a share.
Oil stocks fell the day after OPEC struck a bargain to cut world production by Just over two million barrels of oil a day in order to push up crude oil prices. BP Amoco fell 0.5 pence to 1,001.5 pence a share and Shell fell 6.5 pence to 400 pence a share.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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