Economy woes leave stocks mixed

European shares lost ground on Monday, mirroring falls in Asia as concerns grew about the US economy. The UK’s FTSE 100 index ended 1.1% lower at 6,459 while Germany’s Dax lost 1.2%, and France’s Cac shed 1.4%.

However on Wall Street, shares reversed earlier losses to close ahead – clawing back a little of Friday’s heavy falls.

Investors fear that uncertainty over the level of some companies’ exposure to credit woes is denting the US economy and firms’ profits.

There are also concerns that that the full effects of the US housing slowdown have not yet been seen, analysts say.

Caterpillar warning

The Dow Jones, the main US share index, fell 367 points on Friday, the 20th anniversary of the Black Monday stock market crash.

But it ended 45 points, 0.3% ahead, at 13,567 while the tech-heavy Nasdaq index closed was 1.1% ahead.

Earlier, Tokyo’s Nikkei index closed 2.2% lower as markets across Asia suffered fresh jitters.

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