European stocks drop, tracking slide in oil

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 24, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    European stock markets turned lower on Wednesday as oil prices extended the overnight slide on fears whether a joint OPEC and non-OPEC effort could indeed happen.

    At the time of writing, the Euro Stoxx 50 index was down 0.96%. Germany’s DAX and France’s CAC were down 0.90% and 0.70% respectively. UK’s mining heavy FTSE index was down 0.70% as well.

    Germany’s BMW ST Shares were down 2.1%, followed by a 1.8% drop in Deutsche Bank shares. Shares in UK’s Standard Chartered were down 5.63% as well. BHP Billiton and Norway’s Seadrill shares dropped 4.3% and 3.1% respectively.

    Risk sentiment soured as oil benchmarks dropped at least 1.5%.
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