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European stocks drop as commodity rout continues

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 23, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Mumbai) - The stock markets across Europe fell on Monday as mining stocks fell on account of a sharp drop in oil and copper prices.

    At the time of writing, the pan-European blue chip Euro Stoxx 50 index was down 0.5%. Among regional indices, Germany’s DAX was down 0.4%, while the London’s FTSE was 0.67% weaker. France’s CAC was down 0.86%. Crude extended its drop below USD 42/barrel and copper fell to levels unseen since 2009.

    Shares in Germany’s RWE AG ST fell 3.88%, along with a 5.2% drop in Greece’s Alpha Bank. Shares in UK’s Anglo American fell 2.35%. Petrofac and BHP Billiton fell 2.3% and 2.25 respectively. Meanwhile, the UK’s Home Retail was the top gainer in the Euro Stoxx 600 index; up 6.38%.

    The released of the better-than-expected German and Eurozone manufacturing and services PMI reports had little positive effect on the stocks and single currency.
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