The European Court of Human Rights held an appeal hearing Wednesday into the case of nine Cyprus nationals who went missing in 1974 during Turkish military operations that separated the north of the island.

The dollar recovered against the euro late on Wednesday after falling sharply on news that US consumer prices plunged by a record 1.0 percent in October amid an accelerating global financial crisis.

In late London trading, the European single currency was at 1.2596 dollars -- after jumping as high as 1.2748 dollar and compared with 1.2621 dollars in New York late on Tuesday.

European stock markets closed sharply lower Wednesday with losses of four percent and more after much worse-than-expected US inflation and housing data hit already weak sentiment.

In London, the FTSE 100 index of leading shares fell 4.82 percent to 4,005,68 points.

The dollar fell sharply against the euro on Wednesday after news that US consumer prices plunged by a record 1.0 percent in October amid an accelerating global financial crisis.

At about 1420 GMT, the European single currency jumped as high as 1.2748 dollars, compared with 1.2621 dollars in New York late on Tuesday.

Fiat chairman Luca Cordero di Montezemolo called on Wednesday on EU governments to support their auto industries to ensure they remain competitive with US automakers.

`If the US government becomes GM`s (General Motors`) principal stockholder, Europe cannot stand idly by,` Montezemolo said in an interview published by the daily La Repubblica.

Fiat chairman Luca Cordero di Montezemolo called on Wednesday on EU governments to support their auto industries to ensure they remain competitive with US automakers.

`If the US government becomes GM`s (General Motors`) principal stockholder, Europe cannot stand idly by,` Montezemolo said in an interview published by the daily La Repubblica.

The dollar held steady against the euro but dipped against the yen on Wednesday, as dealers awaited key US inflation data amid growing concerns about the country`s struggling auto industry.

In morning London trading, the euro was unchanged at 1.2621 dollars from late in New York on Tuesday.

Against the Japanese currency, the dollar fell to 96.77 yen from 96.89 yen on Tuesday.

The dollar held steady against the euro but dipped against the yen on Wednesday, as dealers awaited key US inflation data amid growing concerns about the country`s struggling auto industry.

In morning London trading, the euro was unchanged at 1.2621 dollars from late in New York on Tuesday.

Against the Japanese currency, the dollar fell to 96.77 yen from 96.89 yen on Tuesday.

German stocks were slightly stronger at the open on Wednesday when the DAX index of leading shares rose slightly by 0.15 percent to 4,586.33 points at the open.

The DAX had edged up by 0.49 percent on Tuesday.

In Tokyo, stocks slipped by 0.66 percent on Wednesday, weighed down by worries about the outlook for the global economy and a crisis engulfing US carmakers.

German stocks were slightly stronger at the open on Wednesday when the DAX index of leading shares rose slightly by 0.15 percent to 4,586.33 points at the open.

The DAX had edged up by 0.49 percent on Tuesday.

In Tokyo, stocks slipped by 0.66 percent on Wednesday, weighed down by worries about the outlook for the global economy and a crisis engulfing US carmakers.