LONDON (ShareCast) - European markets continued their recent downward trend on Wednesday as investors are more cautious about the economy.
Meanwhile, defensive stocks are in demand, including telecoms such as Deutsche Telekom (Xetra: 555750
- news) and pharma giant Sanofi (Paris: FR0000120578 - news) -Aventis.
Across the markets, the German DAX is down 37 points at 4,853 with the French CAC falling 21 points at 3,192. The Swiss market is down 20 points to 5,356.
Swedish steel maker SSAB (Stockholm: SSAB-A.ST - news) said it expects an operating loss of more than 1bn crowns in the first six months of the year due to the "severe weakness" in the steel market.
CAC 40 (Paris: news) - Risers
EADS (Paris: NL0000235190 - news) (EAD) € 11.39 +2.20%
L'Oreal (Paris: FR0000120321 - news) (OR) € 53.91 +1.39%
Cap Gemini (Paris: FR0000125338 - news) (CAP) € 25.56 +0.99%
Vivendi (Paris: FR0000127771 - news) (VIV) € 17.19 +0.85%
Essilor International (EI) € 34.22 +0.75%
Carrefour (CA) € 29.08 +0.69%
Sanofi-Aventis (SAN) € 46.65 +0.67%
Danone (Paris: FR0000120644 - news) (BN) € 34.95 +0.56%
France Telecom (Paris: FR0000133308 - news) (FTE) € 15.95 +0.50%
Peugeot (Paris: FR0000121501 - news) (UG) € 20.98 +0.38%
CAC 40 - Fallers
ArcelorMittal SA (MT) € 22.82 -5.31%
Dexia (DEXB) € 5.62 -4.80%
Lafarge (Paris: FR0000120537 - news) (LG (003550.KS - news) ) € 46.42 -4.22%
Schneider Electric (Paris: FR0000121972 - news) (SU) € 51.50 -4.08%
Alstom (ALO) € 42.01 -3.17%
Saint Gobain (Paris: FR0000125007 - news) (SGO) € 24.60 -3.11%
Vallourec (VK) € 87.70 -2.70%
Michelin (Paris: FR0000121261 - news) (ML) € 41.83 -2.66%
ST Microelectronics (Paris: NL0000226223 - news) (STM) € 5.39 -2.23%
PPR (Paris: FR0000121485 - news) (PP) € 58.38 -2.15%
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