European shares start month, quarter in the red

By Sarah Turner

Last update: 3:06 a.m. EDT July 1, 2008

LONDON (MarketWatch) -- European shares started the new month and quarter on a downbeat note Tuesday, with automakers and airlines under pressure as light sweet crude oil prices stayed over $140-a-barrel in electronic trading. However, shares in Deutsche Telekom
(DT 16.37, +0.22, +1.4%) rose 2.7% after an upgrade to overweight from neutral by J.P. Morgan. Overall, the U.K. FTSE 100 index fell 0.4% to 5,601.50, the German DAX 30 index dropped 0.3% to 6,399.37 and the French CAC-40 index fell 0.5% to 4,413.68. End of Story