Author: Elena Todorova
123jump.com
Last Update: 1:21 PM EDT May 08 2007

European stock markets lost ground on Tuesday, dragged down by cyclical stocks ahead of central bank decisions around the globe. Losses on Wall Street before Fed Reserve’s meeting also contributed to the negative sentiment. Among the leading decliners, truck maker Volvo lost 6.4%, easyJet dropped 7.1%, and Dutch telecom KPN fell 3.3%. The German DAX Xetra 30 slipped 1.1%, the U.K. FTSE 100 lost 0.8%, and the French CAC-40 fell 0.6%.