European Markets Close Lower
LONDON (AP) _ European markets closed lower Tuesday, pushed down by lower-than-expected sales by Finnish mobile phone giant Nokia and sputtering oil stocks.
Nokia reported sales in 2000 of 128 million handsets. That represents 30 percent of worldwide mobile phone sales but was lower than analysts expected. Nokia’s share price initially dived more than 17.5 percent before recovering to close 8.7 percent down.
Oil stocks fell after Monday’s drop in the price of crude. Shell was down 2.3 percent, while TotalFinaElf fell 1.9 percent.
The Dow Jones Stoxx Index of shares in European companies fell 2.68 points to 334.73. The Dow Jones Euro Stoxx Index, which tracks companies in countries that joined the single currency, fell 3.48 points to 340.86. The Dow Jones Euro Stoxx 50 Index fell 71.9 points to 4639.4 and the Dow Jones Stoxx 50 Index fell 61.8 points to 4410.3.
In domestic markets, London’s FTSE-100 Share Index fell 1 percent, Frankfurt’s Xetra DAX Index was down 0.18 percent, while the Paris CAC-40 Index fell 1.21 percent.