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European Stock Markets Close Lower

June 24, 2002

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LONDON (AP) _ European stock markets closed down Monday, with financial services, media and telecommunications shares the hardest hit.

In Paris, France Telecom shares dropped 16 percent. Shares of wireless telecommunications services company Orange fell 11 percent.

In London, media stocks were among the biggest losers with WPP Group slipping 6.5 percent. Banking stocks also finished lower, with Lloyds TSB shares dropping 1.5 percent and HBOS falling 0.3 percent.

The Dow Jones Stoxx Total Market Index of shares in European companies fell 6.02 points to 232.87 points. The Dow Jones Euro Stoxx Total Market Index, which tracks companies in countries that joined the single currency, was down 7.49 points at 227.54 points.

The Dow Jones Euro Stoxx 50 Index was down 87.6 points at 2,885.0 and the Dow Jones Stoxx 50 Index was down 115.3 points at 2,921.0.

In domestic markets, The Financial Times-Stock Exchange 100-share index closed down 63.40 points, or 1.38 percent, at 4,541.90; the CAC 40 Index in Paris closed down 130.29 points, or 3.43 percent, at 3,669.24; and Frankfurt’s Xetra DAX was down 88.51 points, or 2.09 percent, at 4,143.89.

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