Breaking News

European stocks fall as oil hits new 7-year low.

News Date: 11/12/2015 09:54:07
 

Oil prices dipped to new seven-year lows, after the International Energy Agency (IEA) warned that global demand growth would slow in 2016, amid a supply glut that keeps pushing the prices downward. Brent futures slid 77 cents, or 1.94% to $38.97 a barrel. U.S. crude futures shed 45 cents, or 1.22% to $36.31 a barrel.

 

European shares suffered accordingly, pulled down by energy and mining companies, with the pan-European index FTSEurofirst 300 hitting a two-month low at 1,408, losing 1.36% for the day, and on track for a 3.5% weekly loss, the second consecutive week of above 3.0% losses. Germany's DAX underperformed the broader market, losing 250 points, or 2.36% to 10,348. France's CAC index gave up 90 points, or 1.91% to 4,547. Britain's FTSE index was particularly troubled by South Africa-based companies, like Mondi and Old Mutual, after South Africa president Zuma abruptly sacked the finance minister; the index dove to a 10-week low at 5,974, down 113 points, or 1.86%.

 

Wall Street opened sharply lower in tandem, with Dow Jones skidding 200 points, or 1.12% to 17,382. NASDAQ retreated 60 points, or 1.15% to 4,987. S&P 500 dropped 20 points, or 1.05% to 2,031.

 

Dollar tumbled against its peers, with its index down 0.41% to 97.51, as the Producer Price Index (PPI) fell 1.1% y\y in November, the tenth consecutive month of year-on-year decline. Dollar touched a three-week low against sterling at 1.5218, with a 0.38% loss. It fell to a five-week low against the yen at 121.10, down 0.40%. Dollar gave up 0.47% against the euro to 1.0992.

 

The slump in the dollar value gave some support to gold futures, to trade at $1,067 an ounce, down 0.40%, after going as low as 1,061 earlier. Silver futures weren't as resilient, losing 24 cents, or 1.74% to $13.86 an ounce.  

 

Latest news

Bitcoin, the largest cryptocurrency by market capitalization, managed to exceed the $20,000 level, rising by more than 5%, to $20,286 in particular. Followed by Ether, the second largest cryptocurren
09-2022 27 00:49:52

The dollar index rise against six major currencies, including the British pound and the euro, rose to its highest level in 20 years, supported by the decline of the British pound. The euro recorded
09-2022 26 02:49:04

Crude oil futures rose during the Asian session today, Thursday, this rise came after a decline : after the US central bank raised interest rates to control inflation, which directly affected the dem
09-2022 22 02:20:30

Yesterday, Wall Street closed lower , following the US central bank’s meeting, which is expected to raise interest rates significantly. According to the data, the Standard & Poor's 500
09-2022 21 01:33:42

Today gold futures and crude oil futures rose during the Asian session. As the gold futures contract was traded in December at $1,685.30 an ounce, its price increased by 0.42%, after it had previous
09-2022 20 02:56:35

More News

Logs

Advertisements