Investor’s speculations regarding expansion in bank losses in combination with the dimmed profit viewpoint among the airlines and carmakers because of high oil prices resulted fall in European stocks. On the other hand there is fall in U.S. index futures while Asian shares rose. Wall Street Journal saying that- the U.S. Federal Deposit Insurance Corp. may seek government funds to cover more bank failures, resulted 2.2 percent drop in UBS AG- the European bank hardest hit by the subprime crisis.

Europe’s leading airline Air France-KLM Group dropped 1.6 percent while there is fall of 1.5 percent in Daimler AG since crude rose for a third day.

Switzerland’s third-biggest insurer- Baloise Holding AG slipped 5.4 percent while profits were not at analysts expectations.

There was a decline of 0.4 percent to 281.69 in Europe’s Dow Jones Stoxx 600 Index, in London. Increasing oil prices, elevated inflation and more than $500 billion in credit-related losses by world’s largest banks effected negatively the global economic growth, which outcome 23 percent drop in index this year.

According to estimates of analysts there will be fall of 2 percent on average in earnings among companies in the Stoxx 600 in 2008.