Caution after rally on European markets

European stock markets were stable at the close of play, with investors cautious not to get carried away by the recent rally.

In London the FTSE closed two thirds of a point down. Bank shares suffered as investors became nervous over a four billion euro sell-off of Barclays shares by Abu Dhabi’s royal family. Barclays itself lost 13 percent while Lloyds, HSBC and Deutsche Bank also slipped a few points.

Car-makers made gains though led by Volkswagen.

Frankfurt’s Dax and the CAC 40 in Paris closed on pretty much the same level as Monday.

A euro was buying around 0.86 GBP or 1.42 US dollars.

The cost of a barrel of Brent oil climbed to over 68 dollars.

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tags: Banking, Markets, Money