Europe and Asia Lower
European stock markets closed lower on Monday. In London, the Financial Times-Stock Exchange 100 index lost 35 points to the 4726 level as Rightmove reported today that U.K. property prices fell by 1.7% on average on the month through to mid-November. 88 FTSE stocks were down and 12 were up, on turnover of 556,648,000 shares. Yields on 10-year gilts were off to 4.65% from 4.67% Friday. The sterling was lower at $1.8554. December Brent crude oil futures were up 45 cents to $45.35 and gasoil was up $2.25 to $452.00. BHP Billiton and Antofagasta lower on report Chinese imports of copper declined last month, indicating weaker demand in the world's largest consumer of the metal. Cambridge Antibody Technology Group surged after AstraZeneca bought a 19.9% stake in the company. AstraZeneca was lower. Cable & Wireless was lower after Credit Suisse lowered their recommendation on the stock to "underperform" from "neutral."
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