Recovery doubts drag down stocks

LONDON: European share prices were still weak by midday yesterday after hitting an 11-week low, with persistent concerns about the strength of an economic recovery and company earnings in the second quarter hitting banking and mining stocks.

The FTSEurofirst 300 index of top European shares was down 0.3 percent at 812.18 points by 1031 GMT after touching 805.93, the lowest since late April. The index, which has fallen in seven of the past eight sessions, slipped 1.1 percent on Friday, notching up a fourth straight week of losses.

Banks featured among top losers on the index. HSBC, Barclays , Lloyds, Societe Generale Standard Chartered and BNP Paribas fell 0.3-2.1 percent.