European stocks give back early gains

WATCH VIDEO

Source: CCTV.com | 10-10-2008 08:38

European markets recovered some of Wednesday's hefty losses in early trading on Thursday, but many still ended the day down.

Traders work at the stock exchange in Frankfurt. US and European share prices wilted Thursday after a  mid-day rally as investors remained jittery over frozen credit markets despite official moves to  shore up banks and boost confidence. (AFP/DDP/Thomas Lohnes)

Europe's jitteriness appeared at first to have been calmed by Wednesday's simultaneous interest rate cuts by the world's key central banks even though lending between financial institutions remains limited.

British bank stocks in particular enjoyed a strong rally in the wake of the government's 500 billion pound rescue plan.

But a huge sell-off in the final hour of trading saw the main indices in Britain, France, and Germany finish down 1.2, 1.5, and 2.5 percent, respectively.

Editor:Zhang Pengfei