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European stocks drop after a positive start, miners slide

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 10, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Mumbai) - The stock markets in the Europe turned lower, undoing the positive start to trading as mining shares took a hit following weak China data.

    At the time of writing, the pan-European Euro Stoxx 600 index was down 0.4%. The blue chip Euro Stoxx 50 index also retreated 0.30%. Among regional indices, Germany’s DAX fell 0.5%, while France’s CAC dropped 0.3%. The mining heavy London’s FTSE dropped 0.60%.

    Shares in Greek lender Alpha Bank and National Bank of Greece dropped more than 10% each. UK’s mining giant Anglo American shed more than 5%. Ericsson AB dropped 3.5% after predicting slower growth for the wireless-networking market.

    Shares have erased their gains so far this month on the back of weak Chinese data and increased odds of Fed tightening.
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