ROME: European stocks dropped from a five-week high on Wednesday at the closing time as energy and mining shares followed by commodity plunge on global-growth worries.
The Stoxx Europe 600 Index dropped 1.5 percent to 339.67 at the close of trading. The benchmark earlier pared losses after an aide to the European Union’s top court said a bond-buying program by the region’s central bank via outright monetary transactions is “in principle” in line with the bloc’s treaty.
“The global economy is now terribly sensitive to small inputs in important factors, such as currencies, oil prices, and commodity prices,” David Hussey, head of European equities at Manulife Asset Management, said by phone from London. “People are going to be very worried about whether we’re in deflation and whether growth is coming back. The market is extremely confused. That’s what this year is all about, and there will be a lot more volatility.”
Oil producers and basic-resources companies posted the biggest losses among all 19 industry groups as Brent prices slid for a fifth day, while copper tumbled to a 5 1/2-year low. Rio Tinto Group and BHP Billiton Ltd., the world’s largest mining companies, fell at least 4 percent. BP Plc and Royal Dutch Shell Plc slipped more than 3 percent.
shanghai shares start week with losses 25 june 2018
Hong Kong, (UrduPoint / Pakistan Point News - 25th Jun, 2018 ) :Hong Kong and mainland Chinese stocks fell on...
