PARIS, Dec 12 (Reuters) - European stock index futures pointed to a sharp drop on Friday, after the U.S. Senate failed to approve a rescue plan for the troubled auto sector and as JPMorgan (JPM.N: Quote, Profile, Research, Stock Buzz) CEO warned of a "terrible" fourth quarter.
At 0701 GMT, futures for the Eurostoxx 50 STXEc1, Germany's DAX FDXc1 and the French CAC 40 FCEc1 were down between 4.4 and 4.9 percent.
Senate negotiators failed late on Thursday to reach a compromise deal to bail out the embattled U.S. automakers, effectively killing any chance of congressional action this year.
The news sent shares of Asian automakers tumbling, with Toyota Motor Corp (7203.T: Quote, Profile, Research, Stock Buzz) down 10 percent, and Nissan (7201.T: Quote, Profile, Research, Stock Buzz) -- in which France's Renault (RENA.PA: Quote, Profile, Research, Stock Buzz) has a significant stake -- down 11 percent.
Heavyweight energy and mining shares will be in the spotlight as the news of the failed bailout knocked metal and oil prices lower. (Reporting by Blaise Robinson)
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