The European market ended week on a drop.

Keywords: Greece, unemployment, Trade, EUROPE, U.S.

At the Paris Bourse, the CAC 40 closed down 4.6%, its lowest level since July 2009. Madrid and Frankfurt lost more than 3%, 2.62% cowardly London. Fear of contagion to other Greek countries of the euro area has made the markets nervous throughout the week.

This week's eventful European markets ended with another heavy decline. In Paris the CAC 40 fell at the end of 3392 to 4.6%, 59 points, its lowest level since July 29, 2009. The key index in Paris lost 11.12% on only 5 days.
The DAX index of the Frankfurt Stock Exchange ended down 3.27% at 5715.09 points (-6.86% on the week). In London, the FTSE-100 lost 2.62% to 5123.02 points (-7.75%). The Madrid Stock Exchange ended on a further sharp decline of 3.28% to 9046.1 points. The Ibex index, which lost 5.41% Tuesday victim of rumors about a need for a Spanish aid IMFCoward 13.78% over the week.
Italy was also concerned by reports of contagion Despite denials by the rating agencies. In Milan, where the negotiations were suspended on the main platforms due to "technical problems" to 4:40 p.m. this Friday, the stock ended down 3.27%. A decrease of 10.43% in 5 days.
Nordic Scholarships are not spared the nervousness in Copenhagen, the OMX index-20 star has unscrewed the closing today of 4.14% to 371.12 points, while in Helsinki, the OMX 25 fell 4.1% to 2001.08 points. In Stockholm, the main square Nordic OMX 30 index finished down sharply from 3.34% to 944.57 points, while in Oslo, the benchmark index has lost 2.87% to 348.98 points.
The Athens Stock Exchange, to whom all eyes are turned, closed the week down 2.86% to 1630.47 points.

Panic:
In the wake of Wall Street, which yesterday saw a historic fall of 9% in session yesterday after a "computer error or human", European stock markets have experienced panic attacks. Around 4:40 p.m., the ACC let go of 5.70% to 3353.35 points, the Brussels Stock Exchange plunged 4.19% to 2,300 points. Same thing in Madrid where the Ibex-35 index fell by 4.26% to 8954.2 points. The Dax took down sharply from 3.49% to 5701.80 points. London lost 4.1% to 5045.3 points. Even the Moscow stock exchange gave up 5.54%!
"There is no fundamental to explain, if not very deep nervousness in the markets. The volatility is very important, and uncertainty, fueled by the approach of the German elections weigh, "said Frederic Rozier, manager of equity in Meeschaert Private Banking.
Yesterday Jean-Claude Trichet failed to reassure European markets or Wall Street. The markets fear that the problems of Greece are not being passed in other European countries, and have, in particular, heavy impact on banks.

Visit Brussels and conference call of G7:
On the macroeconomic front, while the austerity plan was adopted by the Greek ParliamentHeads of State and Government of the eurozone meeting in Brussels from 19 o'clock tonight. Angela Merkel and Nicolas Sarkozy will defend on this occasion the need to strengthen in the future budgetary control of the countries of the euro area, Sanctions and possible revisions of the treaties in support.
The finance ministers of the G7 major industrial countries have them held a conference call urgently on the crisis that has engulfed the markets.
Barack Obama also spoke on the topic Friday. The American president wanted to be reassuring, saying the U.S. had continued to cooperate with EU authorities and the International Monetary Fund deal with the crisis of debt. "We've agreed on the importance of a vigorous policy response in the countries concerned and on that of a robust financial response of the international community," he said.
In the United States precisely, the U.S. Department of Labor announced that the economy had created more jobs than expected in April: 290,000 jobs were created last month, is the highest number since March 2006. But these new, "very encouraging" by Barack Obama, went unnoticed on the markets ...
Side currencies, the euro rebounded against the dollar after a plunge yesterday, under $ 1.26 for the first time since March 2009. Around 18 hours, the single currency climbed from 0.70% to 1.2740 dollar.

Bank penalty:
On the values front, as saying that the values are nonexistent on the rise in Paris. The titles are the most attacked, of course, those in banking / insurance, the most exposed. Societe Generalelost 8% and won the title of largest decline of ACC. Just behind, cowardly Dexia 7.54%, Credit Agricole7, 20%, BNP Paribas 5.68%. Axa slipped 6.56%.
Veolia Environment (-5.27% to 21.67 euros) is the penalty after the publication of its quarterly results.
NicOx pharmaceutical value fall -10.29% to 6.79 euros after the announcement of 7.2 million euros in losses in the first quarter.