European shares down 3.9 percent

Posted by 7Star Tuesday, March 31, 2009

European shares closed lower on Monday as banks fell after Spain had to rescue regional savings bank CCM and auto stocks weighed after the Obama administration rejected General Motors and Chryslers turnaround plans. The FTSEurofirst 300 index of top European companies closed down 3.9 percent at 709.10 points.

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