European markets down march 19 2012

why European markets down march 19 2012 ; Europe's main stock markets lost ground on Monday as investors paused for breath, following last week's gains which were rooted in optimism over the global economic outlook and the Greek debt crisis.

London's FTSE 100 benchmark index of leading shares slid 0.33 percent to 5,945.90 points in morning trading and in Paris the CAC 40 dipped 0.52 percent to 3,575.99 points, while Frankfurt's DAX 30 shed 0.38 percent to 7,130.56.

In foreign exchange deals, the euro retreated to $1.3157 from $1.3175 late in New York on Friday.

Despite Monday's modest losses, European shares have soared in value since the start of 2012, boosted by upbeat company results and growing optimism that the worst of the eurozone crisis is over.

So far this year, the London market has gained 9.0 percent, Paris 15 percent and Frankfurt has surged by 22 percent, but sentiment remains clouded by high oil prices and fresh concerns about debt-laden Portugal, dealers said.

"Market had a brighter start to year following Greek debt agreement and strong corporate performances, notably in the United States," said trader Mike Mason at Sucden Financial Private Clients.

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