European stock indexes falling on Wednesday the fourth day in a row - this is the longest period of falling since February, reports Bloomberg. The fears of investors connected with the fact that the recent rally in the stock market does not justify the growth prospects for corporate profits are increasing.

index Dow Jones Stoxx 600 fell during the auction at 2%. As a result, the recovery of this indicator in the past three months, the ratio of prices of shares of companies included in the calculation Stoxx 600, their profit jumped to 25.4, which is the highest level since March 2004.

The situation in the economy does not improve significantly, and since that time we will see correction in the markets, - said a senior strategist at Fortis Global Markets Brussels Philippe Gisela.

       The value of the shares of Swedish manufacturer of various equipment Sandvik fallen during the auctions on 8,5%. The company predicts that this year it will receive an operating loss in the range from 2.2 billion kroner ($ 280 million) to 2.5 billion kroner because of a reduction in demand due to recession the world economy.

Papers largest Spanish utility Iberdrola cheaper at 6.1%, to 5.55 euros. The company has attracted 1.325 billion euros by selling new shares at a price of 5.3 euro for each.

owner of the network of British supermarket chain J Sainsbury is also planning to raise funds - 445 million pounds ($ 731 million) - through the sale of shares and convertible bonds. On this news paper companies cheaper to 5.7%.

The price of shares

SSAB Svenskt Staal fell by 8.7%. Swedish steel maker said that a significant weakness in the steel market remains in the second quarter. SSAB is looking forward to receiving the operating loss in the first half of more than 1 billion crowns.

Papers electrical group Schneider Electric cheaper at 4.3% on fears that a weakening economy will affect company earnings. Oddo Securities analysts advised investors to reduce its investment in shares of Schneider Electric.

start the second quarter was not good, April and May did not show signals of improvement, and the opposite situation in Europe worsened, - the communication analysts.

index of the largest enterprises in Europe, Dow Jones Euro Stoxx 50 to 19:50 AM EDT on Wednesday fell by 40.35 points (1.66%) - up to 2385.62 points.

       The British FTSE 100 dropped 50.11 points (1.16%) - up to 4278.46 points.

French CAC 40 index at that time declined by 52.81 points (1.64%), amounting to 3,161.14 points.

The German DAX lost 90.74 points (1.86%), amounting to 4,799.98 points.

Sixteen of the seventeen stock indexes in Western European markets which opened on Wednesday, falling.

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