UPDATE: 'Disappointing' European summit drags on markets

Asian shares rose for a third day but closed lower than expected as European leaders failed to reveal specific plans to tackle the debt crisis after a meeting yesterday.

This morning European markets edged lower, with the FTSE, as well as French and German indices, opening down on the previous session. In London, the FTSE 100 dropped 1.11% to 5,298.33, while the German Dax  fell 1.74% to 5,890.33 and the French Cac 40 edged down 1% to 3,198.54. They later recovered some ground, with the Cac moving into positive territory, up 0.33%. The MSCI Asia Pacific index, which was up 0.3% to 125.19 points, was also dragged down by falling technology shares following a downbeat outlook reported by Dell. The FT reports the much-anticipated meeting between Frenc...