European shares finished the day one percent lower as the latest US jobs figures at a 25-year high showed the labour market deteriorating further underscoring the severity of the recession.

Shares of energy companies were hit by a sharp fall in the price of oil and it was the same story for miners amid a decline in metals prices. Carmakers Daimler, Peugeot and Renault were among the biggest gainers after analysts at Credit Suisse upgraded the sector. Drugmakers were hit by Novo Nordisk failing to get approval for a new diabetes drug. Royal Bank of Scotland rose after saying it would cut more jobs and promised a “return to paying dividends as soon as practicable.”More about: Euro

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