LONDON: European shares extended losses yesterday, with the Euro STOXX 50 trading 1 per cent lower at 2483.92 points by 1114 GMT, having fallen through chart support at the 23.6 per cent Fibonacci retracement of the late July to mid-September rally.
The FTSEurofirst 300 was down 0.6 per cent at 1,096.17.
By midday in Europe, shares were mixed, with Madrid’s IBEX index underperforming its peers. The IBEX was trading 1.6 per cent lower at 7,712. Elsewhere, Germany’s DAX was 0.4 per cent lower at 7,261 while the CAC-40 in France fell 1 per cent to 3,404. London’s FTSE 100 index was 0.1 per cent lower at 5,775.
“What we’re seeing today is investors/fund managers squaring positions at the end of the quarter, and going into the new quarter as well,” Manoj Ladwa, head of trading at TJ Markets, said. Agencies