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World stocks mixed on economic worries

Financial Law     updated  2008/11/10 06:45

World stock markets were mixed Monday as early enthusiasm over China's $586 billion economic stimulus plan dissipated amid renewed worries about the world economy after U.S. electronics retailer Circuit City Stores Inc. filed for bankruptcy protection.

U.S. shares, which opened strongly following Friday's strong finish, were down. The Dow Jones index of leading shares fell 31.38 points, or 0.4 percent, to 8,912.43.

The losses on Wall Street prompted some selling in Europe before the close after earlier strong gains in the wake of the Chinese stimulus package.

The FTSE 100 index of leading British shares ended up only 38.96 points, or 0.9 percent, at 4,403.92, while Germany's DAX was 87.07 points, or 1.8 percent, higher at 5,025.53. France's CAC-40 was 36.63 points, or 1.1 percent, higher at 3,505.75.

Investors became increasingly concerned that the economic recession in the U.S. will be deeper than anticipated and could lead to some high-profile casualties.

"That's likely to hold any recovery somewhat in check," said Hugh Johnson, chairman and chief investment officer of Johnson Illington Advisors.

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