European stocks rally, ignore drop in oil

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 21, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Mumbai) - The stock markets across Europe rallied on Monday as investors turned a blind eye towards the drop in Brent price to the lowest level since 2004.

    The pan-European Stoxx 600 was 0.7% higher in morning trade, despite opening lower. Majority sectors were in the positive territory.Among the regional indices, Germany’s DAX was up 0.9% at the time of writing. France’s CAC was up 0.48%, while London’s FTSE was up 0.80%.

    Shares in Glencore advanced more than 7% as the Citigroup raised its price target for the stock. Anglo American was also up over 5%. Spanish equities have taken a beating after an inconclusive election result triggered a fresh uncertainty over the outlook for the country's reform programme and the broader economy.
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