28 Sep 2008

European shares fall

10:51 am on 28 September 2008

The FTSEurofirst 300 index of top European shares ended 1.8% lower on Friday night.

Gold jumped 4% and the US dollar fell 1.6% against the yen, which was the strongest currency performer accross the board.

Oil slipped to about $US105 a barrel, pressured by concerns over the financial market crisis.

Further pressure came as investors, who flocked into oil and other commodities earlier this year as a hedge against inflation and a weak dollar, shifted their money into safer havens.