European mkts decline in early trade

European shares moved in red in early trade on Monday (Mar. 17, 2008) inspite of cut of 25 basis points by the Fed Reserve on emergency basis.

Deutsche Bank AG and BNP Paribas SA, the largest banks in Germany and France respectively, declined.

UK`s benchmark index, FTSE 100 declined 106.90 points, or 1.90%, to trade at 5,524.80. French benchmark index, CAC 40 fell 106.44 points, or 2.32%, to trade at 4,485.71. Germany`s benchmark index, DAX declined 190.24 points, or 2.95%, to trade at 6,261.66.