EUROPEAN stock markets closed with heavy losses of between 5.0 and more than 6.0 per cent overnight as investors brushed aside central bank efforts to counter the global financial crisis.
The London FTSE 100 index of leading shares shed 5.18 per cent in turbulent trade to finish at 4366.69 points while in Paris the CAC 40 fell 6.39 per cent to 3493.70 points.
The Frankfurt DAX lost 5.88 percent to 5013.62 points.
Elsewhere there were declines of 5.51 percent on the Swiss Market Index, 5.20 percent in Madrid and 5.71 percent in Milan.
