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European stocks drop as oil weigh over risk sentiment

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 19, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    European stocks took a hit, with investors increasing exposure to safe haven bonds as the losses in oil weighed over the “risk-on” sentiment.

    At the time of writing, the pan European blue chip Stoxx 50 index was down 1.3%. Stoxx 600 was down 0.74%. Germany’s DAX was down 1% and UK’s FTSE was down 0.60%. France’s CAC was down 1% as well.

    Shares in Norway’s Seadrill were down almost 8%. UK’s Tullow Oil and Norway’s Subsea 7 was down 4.4% and 3.8% respectively.

    Oil prices took a hit after the data in the US showed inventories at record highs last week. The weakness led to a negative closing on the Wall Street.
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