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European stocks in red as oil weighs over commodity stocks

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Drop in oil prices today weighed over commodity shares across Europe and pushed major indices into losses.

    At the time of writing, Stoxx 50 index was down 0.40% and Stoxx 600 index was trading 0.85% lower. Germany’s DAX and France’s CAC traded with 0.40% and 0.60% lower respectively. UK’s mining heavy FTSE was down 0.60% as well.

    Shares in ArcelorMittal were down 24.8%. In London, Anglo American, Antofagasta, BHP Billiton, Tullow Oil were all down more than 5% each. Norway’s Seadrill was down 4.8% as well.

    Meanwhile, winning side included names like shares in British online supermarket Ocado, French telecom operator SFR. The company reported core operating profit growth of 20%.
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