MARKET REPORT - EUROPE

DAX: 2,544.26 (-17.55)

DAX: 2,544.26 (-17.55)

Sentiment on Germany's DAX index of blue chip stocks is unbelievably bearish" and a 6 per cent downward correction to 2,400 points over the next three weeks could be on the cards, according to analysts.

CAC-40: 2,050.55 (-23.11)

French shares ended in negative territory after staging a partial recovery on the back of US data which gave mixed readings on the economy.

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Mibtel: 10,247 (-144)

Italian shares ended just above day's lows in line with other markets jittery over Wall Street and depressed by worries international investors might desert Milan after a negative Goldman Sachs report downgraded Italy to underweight from overweight, traders said.