LONDON -- The specter of a further rises in oil prices took its toll on Europe's stock markets.
closed down 27 points at 6556 as the slide in share prices didn't discriminate between shares considered to be Old Economy and the technology and telecom shares.
, the industrial logistics group, headed the losers, closing down 70 pence, or 6.5%, at
The major oil stocks were also surprisingly subdued, as it is their business that is causing most of the worries.
closed down 6p, or 0.9%, at
665 ($9.31) and
was down 8.5p, or 1.4%, at
Not even a gain by the heavily-weighted
could save the index. It closed up 1.75p, or 0.7%, at
There were also rises in
following Monday's selloff on the postponement of the closing of their merger on regulatory issues. Glaxo closed up 65p, or 3.4%, at
19.75 and Smithkline ended up 29.5p, or 3.2%, at
Europe's other major stock markets finished Tuesday mixed, as the
in Paris closed off 22.8, or 0.3%, at 6697.8 and late in the German trading day the
in Frankfurt was down 62.8, or 0.9%, at 7151.7. The Neuer Markt's tech-heavy
index was 61.8 lower, or 1%, at 6103.8.
Continental tech stocks labored most of the session Tuesday, with
down 0.75 euros, or 1.1%, at 67.40 ($57.91),
off 1.57 euros, or 0.9%, at 179.00 and software maker
7.97 euros lower, or 2.8%, at 281.00.
Telecoms were able to eke out modest gains, with
up 0.15 euros, or 0.4%, at 42.96,
closing up 0.30 euros, or 1.3%, at 24.00 and
ending up 0.10 euros, or 0.1%, at 132.60.
Elsewhere in Paris,
closed down 1.60 euros, or 3.2%, at 48.90 and telecom-equipment maker
dropped 1.05 euros, or 1.2%, to 87.95.