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European stocks ignored oil price drop, FTSE gains 1.35%

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 25, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The stock markets in Europe advanced today as investors turned a blind eye towards the oil price drop and Brexit fears.

    At the time of writing, Stoxx 50 index was up 1%. Germany’s DAX index was up 0.4% and France’s CAC had gained 1.12%.

    UK’s mining heavy FTSE index strengthened 1.5%. Oil slide keeps energy stocks under pressure in UK. Weir Group shares dropped 4%. However, miners are witnessing a technical correction, with Glencore rising 4.6%.

    Oil prices turned lower in Europe as investors shifted their focus back to OPEC’s reluctance to cut production.
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