European stock markets lower automobile and commodity stocks down

The auto sector and the sharp decline in commodity stocks drag, European stock markets ended lower on the 24th, the European Stockton 600 index fell 1.6 percent to 282.2 points.

Comprehensive foreign July 24, European stock markets ended lower on the 24th, taking on the 23rd of the majority or, as DaimlerChrysler and Renault to reduce full-year outlook, dragging the auto stocks, and weaker commodity drag down Oil stocks and mining stocks.

In addition, the United Kingdom and the continuous deterioration of the euro zone's economic prospects also drag on the index.

British retail sales in June of the Year 1986 data compiled since the biggest monthly drop. Investec economist David Page said the data highlighted the instability of the British economy. He said, Investec think that the British economy is in the brink of recession.

German Institute for Economic Research (Ifo Institute) 24日announced earlier, the business climate index fell for the fourth consecutive month. The report shows that the strong euro and high oil prices to the German economy the negative impact.

European Stockton 600 index fell 1.6 percent to 282.2 points. Britain's FTSE 100 index fell 1.6 percent to 5,362.3 points. France's CAC 40 Index fell 1.4 percent to 4,348.0 points. The German DAX 30 index fell 1.5 percent to 6,440.7 points.

DaimlerChrysler Corporation (Daimler AG) Stockton is the European 600 index showed the largest decline in stocks, the company issued before the whole financial year profit warning, because raw materials such as steel and oil prices rose and the euro rose against the dollar. Despite its anticipated revenue growth will be moderate and car sales will increase, but DaimlerChrysler eventually closed down 9.6 percent to 38.5 euros.

DaimlerChrysler news drag down other auto stocks, Renault (Renault) fell 3.4 percent to 55.9 euros; VW (Volkswagen) fell by 2.8 percent to 203.8 euros.

Mineral and petroleum product stocks on the 24th were the former, Britain's FTSE 100 index heavy pressure. Royal Dutch Shell Co., Ltd. (Royal Dutch Shell) fell 2.0 percent to 1790 pence.