Europe closes mostly lower on oil price drop

Monday, 09. August 2021 17:31

Major European stock markets closed the first trading session of the week mostly with losses as fuel companies tumbled on the drop in oil prices. Oil futures sank by over 4% mostly triggered by fears of the effect that Delta strain could have on the markets.

Meanwhile, Sentix released a report showing that euro area investor confidence dropped sharply in August, missing analyst expectations. British Deliveroo rose nearly 9% to a record high following the announcement that the German Delivery Hero company has taken a 5.09% stake in the business.

The DAX dropped 0.10% as Delivery Hero fell by 3.20%. The FTSE 100 gained 0.13% led by Sse PLC adding 5.01%, while the CAC 40 closed with 0.06% below the flatline with Unibail-Rodamco-Westfield losing 3.60%. The euro slid by 0.08% against the dollar to sell for $1.17520 at 5:29 pm CET, at the same time the British pound decreased by 0.10% exchanging hands for $1.38596.

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Breaking the News / LH