European equities ended today’s session in the red as EURUSD hit two and a half year high, and investors focused on the changes in oil prices.
In Eurozone, the sector of Basic Resources was the worst performer in the region as the Hurricane Harvey in the United States destroyed some of the crude production and many refineries.
Oil prices rebounded slightly from the losses during today’s session, where Brent Crude oil traded at $51.86 per bushel while WTI was trading at 46.74 per bushel. Moreover, Oil's refinery stocks in U.S rose on Monday as the Hurricane Harvey forced refiners in Houston to shut down.
After the president of ECB Mario Draghi delivered two speech during last week giving no indicators about the bank’s next steps for the monetary policy, EUR appreciated against the greenback reached its highest level since two years and a half.
Looking at individual stocks, the French telecom group Altice, announced $1.2 billion share buyback program and said it is considering takeover opportunities.
London stock exchange was closed today as today coinsides with UK’s summer bank holiday.
German’s equities ended today’s session in the red territory as the losses generated by Basic Materials, Financials and Technology sectors pressured the equities. DAX 30 declined by 0.37% to close the session lower at 12,123.47.
Today’s declining stocks outnumbered rising ones with 22 losers, 8 gainers, and 0 flat shares.
The best performers of the session on the DAX 30 were, Infineon Technologies AG added 0.39%, E.ON SE gained 0.29%, and Thyssenkrupp AG rose by 0.28%.
Meanwhile, the worst performers of the session on the DAX 30 were, Linde AG shed 1.36%, Adidas AG lost 1.28%, and Deutsche Boerse AG declined by 1.20%.
French equities were also lower in today’s session where CAC 40 fell by 0.48% to settle down at 5,079.75 pressured by the losses in Industrials, Consumer Non-Cyclicals, and Basic Materials Sectors.
Today’s losers outnumbered gainers by 33 to 6, and 1 share remained flat.
The best performers of the session on the CAC 40 were, Compagnie Generale des Etab gained 1.65%, Renault SA added 0.31%, and Credit Agricole SA was up by 0.23%.
Meanwhile, the worst performers of the session on the CAC 40 were, Vivendi SA dropped by 2.86%, Safran SA fell by 1.38%, and TechnipFMC PLC declined by 1.20%.
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