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European shares drop

Wall St weakness moved investors to cash in, analysts said

07 April, 19:49
European shares drop (ANSA) - Milan, April 7 - European stock markets lost ground Monday on what analysts said was profit-taking by investors after weeks of positive runs. Investors decided to cash following lowered expectations of new moves by the European Central Bank, coupled with weak trading on Wall Street ahead of quarterly financial reports, analysts said.

In Milan, the FTSE-Mib outperformed other European indexes for most of the day, only to lose 0.84% in the last few minutes to close at 21,988 points.

The FTSE All-Share lost 0.77% to close at 23,457 points. In the Greek capital, the ATHEX index closed down 0.45% at 1,308.84 points while in Madrid, the IBEX index lost 0.66% to end at 10,606.20 points.

The three worst-performers were the Parisian CAC-40 index, which dropped 1.08% to end the trading day at 4,436.08 points, London's FTSE-100 index ( down 1.09% at 6,622.84 points), and the Frankfurt DAX index, which plunged 1.91% to close at 9,510.85 points.