Early losses were pared in Paris, but the market still ended lower for the third day running. The session was again dominated by oil giant Total, where turnover remained heavy at FFr2.3bn.
By the close the CAC-40 index was comfortably above its 3,628.42 low for the session at 3,649.91, a decline of 1.04 per cent or 38.43 on the day, or 7.5 per cent since Friday's close.
Total stayed out of favour as analysts drew comparisons between the 37 per cent premium it is paying for PetroFina and the 15 per cent or so put up by BP and Exxon for Amoco and Mobil.
The stock ended off FFr28 at FFr5.90, a two-day fall of The FTSE Eurotop 300 index fell 9.69 or 0.88 per cent to 1,096.61.
The downbeat mood also spread to PetroFina in Brussels where profit-taking after Tuesday's 18.4 per cent surge left the stock off BFr225 at BFr16,650.
TV group TF1, hit by delays to a broadcasting law to curb public television advertising and leave a clear field for the private channels, shed FFr45 at FFr963.
Frankfurt headed further into negative territory after Tuesday's 5 per cent tumble. The Xetra Dax index registered a loss of 64.98 at 4,712.20.
BMW was the car sector's big loser as news that the Rover Group chairman, Walter Hasselkus, had resigned overshadowed a landmark deal to axe 2,500 jobs and introduce flexible working to save the British Longbridge plant from closure.
Deutsche Bank picked up to a high of DM102.75 on news that it was to buy Credit Lyonnais Belgium before selling pressure again took hold. Siemens was marked down DM2.95 to DM112.55
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