Thursday, April 10, 2008

European markets open negative

European stocks opened on a weak note on concerns that profit growth will be hampered as the region`s central bank kept borrowing costs at a six-year high to contain inflation.

Credit Suisse Group and Allianz SE declined after billionaire George Soros said the debt-market turmoil will get worse. DSG International fell as the U.K.`s biggest consumer-electronics retailer lowered its earnings forecast.

UK`s benchmark index, FTSE 100 fell 0.60 points, or 0.01%, to end at 5,983.30.

French benchmark index, CAC 40 declined 18.26 points, or 0.37%, to close at 4,856.71.

Germany`s benchmark index, DAX fell 31.37 points, or 0.47%, to close at 6,689.99.

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