Stocks: Weekly review

Notching up another weekly loss, its sixth in a row, the FTSE Eurofirst 300 fell 2 per cent to 1,089.55 over the five sessions.

Wall Street tumbled into its sixth consecutive week of losses, helped lower by financial stocks as investors continued to turn from risk assets on worries about the strength of the US economy.
The S&P 500 index was down 2.2 per cent over the five-day period, the sixth consecutive week of losses on the index. The last time there were six straight weeks of losses was in June and July 2008. The last time there were more than six in a row was in February and March 2001.
In corporate news, Goodyear Tire & Rubber, the largest tyre company in the world, agreed to sell its global wire business to Hyosung Corporation for $50m.
The news sent shares in the company down 6.7 per cent to $14.99, making it the worst-performing stock on the S&P 500 index.
This helped dip the Dow Jones Industrial Average below 12,000 for the first time in three months.
The index lost 1.4 per cent to 11,952.06, down 1.6 per cent over the week. The Nasdaq Composite fell 1.5 per cent to 2,643.73, retreating further into negative territory for the year. The index was down 3.3 per cent over the week and is 0.3 per cent lower for the year.
The S&P financial index was down 2.2 per cent over the week.
Bank of America fell 4.3 per cent over the week to $10.80 while Citigroup was down 4.8 per cent to $37.92.
Energy also had a roller-coaster ride over the week, rallying on Wednesday due to firmer oil prices as Opec failed to reach an agreement to raise output.
But overall, the sense that the global economy was slowing left the S&P energy index down 2 per cent despite higher energy prices.
Peabody Energy, the US coal group, was down 5.8 per cent to $55.33 while Hess fell 5.3 per cent to $72.85.
The energy sector has been the second-worst performing sector after financials over the last six weeks, falling 9.2 per cent.