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Strategies & Market Trends : Stocks Crossing The 13 Week Moving Average <$10.01

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To: James Strauss who wrote (12175)	2/25/2003 6:33:27 PM
From: Bucky Katt	Read Replies (1) of 13094

European markets close at 6-year lows By Michael Morgan and Dave Shellock Published: February 25 2003 7:40 \| Last Updated: February 25 2003 23:24 European equity markets slumped with Germany's Dax hitting its lowest level in more than six years on Tuesday as concerns about war in Iraq, accounting irregularities and disappointing corporate results produced a triple-whammy of bad news. And as if that was not enough, US consumer confidence in February plunged to its worst level in nearly a decade. The pan-European FTSE Eurotop 300 was down 3.4 per cent in late trade at 751.0. Financial stocks led decliners following a weak earnings reports from Swiss bank CS Group. Frankfurt's Xetra Dax was off its worst level - a low not seen since July 1996 - but remained sharply down on the day. It was 3.3 per cent lower by the close of trade at 2,485.50. The Paris CAC 40 closed at its lowest level of the day, down 3.7 per cent to 2,683.37 - also a six-year low. In London the FTSE 100 ended 2.2 per cent lower at 3,621.5. "Corporate news is disappointing and worries about Iraq have been brought very much to the forefront," said David Thwaites, European equity analyst at BNP Paribas in London. In the US, an unexpectedly sharp fall in consumer confidence to 64 in February set the early tone on Wall Street, before buyers stepped in and drove the main indices higher by the close of trading.

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