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Paris - European stocks ended the last session of
the month in red on Monday, as the resurgence of worries over Italy’s debt and
U.S. broker MF Global’s bankruptcy filing prompted investors to cash in a
portion of the stellar gains made in October.
The FTSEurofirst 300 index of top European shares provisionally
ended the session 1.8 percent lower at 999.63 points, though it posted a monthly
gain of 8.3 percent, the index’s first monthly gain since April and its biggest
gain since July 2009.
Italian shares took a beating, with the FTSE MIB benchmark tumbling
3.8 percent, while the yield on the country’s 10-year benchmark bond climbed
above 6 percent, adding pressure on the government to tackle its debt problems.
“The revived jitters on Italian debt is a sign of nvestors’
nervousness. The measures agreed during last week’s summit, which failed to push
Italian yields lower, need to be clarified and quickly put in place,” Arnaud
Poutier, co-head of IG Markets France, said.
Euro zone banking stocks were the biggest losers on Monday, also
hurt by fears over the impact of MF Global’s collapse.
