European stocks painted in red on China and oil price drop

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 26, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Joined:
    Oct 7, 2015
    Messages:
    27,524
    Likes Received:
    0
    FXStreet (Mumbai) - The stock markets across Europe are trading in red after the Chinese stocks closed over 6% lower and oil fell below USD 30/barrel.

    At the time of writing, the pan-European Euro Stoxx 50 index was down 1.2%. Germany’s DAX was down 1.2%, while France’s CAC was down 1.4%. The mining heavy UK’s FTSE was down 1.3%. The broader Stoxx 600 was down 1.8%.

    Once again, energy shares were top losers across Europe. Norway’s Seadrill and Subsea were down 7% and 5.5% respectively. In London, Petrofac and Weir Group were down 5% and 4.6%. German carmakers Daimler and BMW were in the red while luxury stocks including Richemont and LVMH were sharply lower.

    US crude fell below USD 30/barrel after sliding as much as 7 percent on Monday. The oversupply concerns were back after Iraqi official may raise output even further this year.
    For more information, read our latest forex news.
     

Share This Page

free forex signals