Breaking News

Oil prices plunge; dragging European shares down.

News Date: 28/12/2015 09:36:42

Oil prices tumbled on renewed worries about global oversupply, and weakening growth in China and elsewhere, with Brent crude futures dropping 90 cents, or 2.40% to $36.98 a barrel. U.S. West Texas Intermediary (WTI) crude futures dove 105 cents, or 2.77% to $37.05 a barrel, keeping a slight premium over Brent.


European shares struggled thereafter, with energy companies heading the top fallers; also affecting them: a slump in Chinese shares of about 3.0% after industrial profits fell in November. The pan-European FTSEurofirst 300 index gave up 0.43% to 1,433. France's CAC lost 40 points, or 0.85% to 4,623. Germany's DAX dipped 74 points, or 0.70% to 10,652. Britain's FTSE is closed however for the day.


Euro performed well, touching a nearly-two-week high against the dollar at 1.0991, before steadying to 1.0971, up 0.1% for the day. It rose 0.2% against sterling to 0.7362. It advanced 0.24% against the yen to 132.20.


Commodities deepened their losses, with Silver futures sliding 32 cents, or 2.25% to $14.05 an ounce. Gold lost $5.40, or half a percent to $1,070 an ounce. Copper futures hit a ten-day low at $2.088, down 1.70% for the day.


Wall Street opened lower in tandem with their European counterparts, with Dow Jones giving up 75 points, or 0.43% to 17,477. NASDAQ slipped 18 points, or 0.36% to 5,030. S&P 500 slid 8.7 points, or 0.43% to 2,052.23.  


Latest news

Curse continues... Inflation is following us to 2023 Inflation led most of the banks in the world to raise interest rates, in an attempt to reduce it . The International Monetary Fund expects that t
12-2022 30 06:28:23

Gold prices fluctuate with the reduction of dollar's losses Gold's prices varied after its positive start at the expense of the dollar’s decline, which tended to reduce its losses, while oil c
12-2022 29 03:29:32

Vladimir Putin takes revenge by Russian oil embargo President Vladimir Putin has banned Russian oil in response to the price cap. He has signed a decree retaliating against the West's imposition of
12-2022 28 03:04:38

Gold prices rose today, Tuesday, affected by the decline of the dollar, which declined by 0.3%, and gold rose by 0.4% to reach $1804.99 an ounce, and gold futures rose by 0.4% to reach $1811.90. The
12-2022 27 04:19:22

The first Saudi-Japanese ministerial dialogue meeting for energy The Saudi Prince of Energy and the Japanese Minister of Economy and Industry held a meeting in Riyadh - Saudi Arabia, in which they
12-2022 26 02:50:27

More News