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EU stocks and Oil continue the rout as markets wobble

  • Regular
  • Economy
  • 5 months ago
  • 66

European stocks have once again faired unimpressively, the pan-European Stoxx 600 fell by 0.2% through the day’s session along with most of the Eurozone’s indexes also in negative territory.

The Stoxx 600 has fared like most other indices as it has dropped by more than 12% a year on today and is on track for its fourth consecutive month of losses.

Oil and Gas stocks lead the way as crude prices came under heavy fire as U.S. crude dropped by 4.1%, at $ 48.40 per barrel, while Brent Crude also lost 4% at $58.06 per barrel.

E.U. oil stocks fell by a further 1.5%, Lundin Petroleum, Aker BP and Subsea 7 all sank by more than 5%.

 

Source: Smart Trend Team