European stock markets were declining further last week due to indications that US economy pace is decelerating. This had an impact on shares of main European exporters such as Siemens AG or Philips Electronics NV as their shares slumped by 4% and 2% respectively in the last five days. Also, shares of petrochemical trust were weakening when Citigroup analysts lowered investment recommendation for this sector. BP Plc shares fell by 3.1%, Total SA lost 3.5% of its value while Royal Dutch Shell Plc finished the week by 2.8% lower.
Overall, DJ Stoxx Index 600 weakened by 0.2% while narrower DJ Stoxx 50 took away 0.1%. National indices weakened in eleven out of eighteen western European countries. German DAX Index lost 0.2%, while French CAC 40 Index fell down by 0.8% and British FTSE 100 Index by 0.1%.