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European Stock Markets Close Lower

April 24, 2002

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LONDON (AP) _ European stock markets closed mostly lower Wednesday, as declines in oil and telecommunications shares outweighed gains in the pharmaceutical and banking sectors.

Oil stocks fell after Tuesday’s disappointing results from U.S. company Exxon Mobil and an overnight lower-than-expected drop in the American Petroleum Institute’s crude oil inventories.

The Dow Jones Stoxx Total Market Index of shares in European companies fell 1.11 points to 281.70 points. The Dow Jones Euro Stoxx Total Market Index, which tracks companies in countries that joined the single currency, was down 1.97 points at 277.32 points.

The Dow Jones Euro Stoxx 50 Index was down 30.6 points at 3,627.2 and the Dow Jones Stoxx 50 Index was down 12.6 points at 3,555.2.

In domestic markets, The Financial Times-Stock Exchange 100-share index closed up 27.20 points, or 0.52 percent, at 5,218.2; the CAC 40 Index in Paris closed down 34.55 points, or 0.76 percent, at 4,528.0; and Frankfurt’s Xetra DAX was down 31.96 points, or 0.62 percent, at 5,160.14.

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