Europe Market Summary

Friday, February 22, 2008

	European shares were dragged lower by utilities after disappointing profits from Germany's RWE, while heavyweight oil stocks tracked crude prices lower. RWE dropped 3.8%, making it the biggest percentage loser on the European index, after the co reported profit below expectations. German peer E.ON lost 2.3% and was the biggest drag on the index. French utility Suez fell 2.1% as newspapers said it was in talks with private equity co Terra Firma to trump an agreed 1.2 bln pound bid for British waste co Biffa. The FTSE slipped 0.1%; the DAX fell 1.2%; the CAC was down 0.4%.