Today's big U.S. drug merger spurred competitive concerns in the U.K., sending pharma shares sharply lower amid a general European selloff.
As traders reacted to
, big drugmakers such as
tumbled in London trading. That helped knock the
down 66.4, or 1.1%, to 6118.6.
was even worse off, dropping 148.29, or 2%, to 7296.32 as
dropped 5.75 euros, or 1.8%, to 315.75 on Frankfurt's biggest volume of the day.
got slammed 4.6%, and only
was on the plus side among Frankfurt's 10 most-active stocks.
was a standout on the plus side, surging 5.30, or 9.4%, to 62.00 on strong 1999 earnings.
lost 72.14, or 1.2%, to 6203.58, after trading as high as 6336.68 intraday. Some leading telecom shares gave back much of their recent run-up, with
slumping 9.90, or 6.1%, to 152.10 and
off 2.40, or 1.9%, to 125.50.
countered the trend, however, with a rise of 9, or 3.5%, to 267.50.