German shares close lower as Wall Street slumps on credit market worries |
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Mon, 26 Nov 2007 17:39
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FRANKFURT (Thomson Financial) - German shares closed lower, tracking Wall Street, after a weak US housing outlook by Citigroup and downbeat statements on money markets by the New York Federal Reserve sparked fresh concern that fallout from the US sub-prime loan crisis may continue well into 2008.The DAX closed 41.60 points or 0.55 pct lower at 7,567.36 points, after trading between 7,559.70 and 7,674.66.The MDAX slumped 57.42 points or 0.62 pct to 9,229.38 points, while the TecDAX gained 20.94 points or 2.38 pct to 902.18 points.DAX futures slumped 34.00 or 0.45 pct to 7,596.00, while bund futures were 0.06 or 0.05 pct lower at 115.17.The euro was trading at 1.4858 usd against 1.4843 in afternoon London trade.maria.sheahan@thomson.commas/jlcCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Swiss shares close lower tracking Wall Street losses, Roche weighs UPDATE 