European stock markets down feb 10 2012

European stock markets down feb 10 2012 : European stock markets fell Friday after euro-zone chiefs withheld approval for a second Greek bailout and demanded fresh proof from the country's political leaders that they were ready to deliver on past and new pledges.

The benchmark Stoxx Europe 600 index slid 0.6% to 262.12. London's FTSE 100 Index fell 0.4% to 5872.86, Frankfurt's DAX declined 1% to 6724.27, Paris's CAC-40 Index slipped 0.8% to 3397.00 and Greece's ASE index lost 2.8% at 800.78.

Banking stocks fell on the Greek debt drama, with the Stoxx Europe 600 Index for the sector down 1.5% overall. Barclays shares, however, topped London's FTSE 100 index, up 2.1%. The bank reported a decline in full-year earnings, which showed a sharp drop in investment banking revenue. Analysts, however, chose to focus on the brighter aspects of Barclays' earnings report, with Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers saying there was a generally robust performance (investment banking aside) while the £2 billion ($3.16 billion) cost-savings figure will boost overall efficiency. "Investors are for the moment giving the bank the benefit of the doubt as a recovery play," added Mr. Hunter. For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today

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