Stock Markets: The week reviewed
Sunday 01 June 1997
The rally in New York came too late for the London market. The FT-SE 100 index ended on Friday 51 points down, contributing to the 0.87 per cent fall on the week to 4621.3. Political instability in Europe rattled investor confidence. Financial stocks suffered the most, but a strong showing by defence and aerospace stocks limited the overall damage.
In France, the CAC Index lost 6.5 per cent on the week to 2583.94, wiping out nearly all the gains the market had made since President Jacques Chirac called the elections on 21 April. The losses were in response to the stronger- than-expected showing from the opposition Socialists in the first round of legislative elections. Thomson-CSF, Credit Lyonnais and other state- controlled companies slated for sale led the plunge on concern that the Socialists will alter plans for asset disposals and other economic reforms.
In Germany, the DAX index fell 1.5 per cent to 3547.84 as the prospect of a Socialist win in France and the dispute between the government and the Bundesbank heightened uncertainty about the future of the single currency and undermined confidence in Germany. Insurer, Allianz led the decline. Copyright: IOS & Bloomberg
- 3 Daily Show's Jon Stewart destroys Fox News for its Ferguson coverage
- 5 Terror threat level raised to severe as PM warns Isis risk could last for decades
Keira Knightley topless: Usually conservative actress does own take on #Freethenipple campaign for Interview Magazine
YouTube video posted by Isis militants shows 'execution of 250 Syrian soldiers'
Botched ice bucket challenge leaves man critically injured after plane drops hundreds of gallons of water
Terror threat level raised to severe as PM warns Isis risk could last for decades
Isis 'A Message in Blood' video shows beheading of Kurdish man in Iraq
Robin Williams Emmys tribute led by Billy Crystal criticised for including 'racist' joke about Muslim woman
The Rotherham child abuse scandal is a tale of apologists, misogyny and double standards
Scottish independence TV debate: Pumped-up Alex Salmond bounces back in bruising second round against Alistair Darling
Do you realise just how foolish the UK looks?
Ukip Douglas Carswell defection: Tory MP jumps ship to join Nigel Farage
When elitism grips the top of British society to this extent, there is only one answer: abolish private schools
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