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French stocks turn lower, down 1.83pc

PARIS : French share prices reversed direction Monday, falling 1.83 percent by midday after having rallied initially b
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By Syed Murtaza Gheblehzadeh
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french-stock-exchangePARIS: French share prices reversed direction Monday, falling 1.83 percent by midday after having rallied initially by slightly more than 1.0 percent.

The Paris market was erratic, as others in Europe, after sharp falls in Asia after an unprecedented US ratings downgrade and a European Central Bank decision to support the market for bonds issued by distressed eurozone countries.

Financial markets begin the week in deep uncertainty about weekend official statements on containing the eurozone debt crisis, Standard & Poor's downgrade of its rating for US debt from triple A and the risk that there could be a fresh economic downturn.

 

Copyright AFP (Agence France-Presse), 2010

 

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