Europe closes lower amid worrying signs from OPEC

Thursday, 21. June 2018 17:32

Major European stock indexes closed in the red on Thursday as the Organization of the Petroleum Exporting Countries (OPEC) holds a summit in Vienna. Investors seemed concerned about indications that oil-producing countries could increase supply. Meanwhile, the Bank of England published its fiscal policy decisions and announced it is keeping interest rates steady, with three members calling instead for an increase. In data, the new Eurozone consumer confidence report indicated a decrease in June compared to May.

The FTSE 100 ended the day 0.9% lower. United Utilities dropped 6.03%.

The DAX fell 1.48%, as Beiersdorf AG dropped 5.61% following news that the company's CEO is stepping down.

The CAC 40 finished the session losing 1.06%. Car maker Renault lost 5.2%.

The euro gained 0.3% compared to the dollar at 5:33 pm CET and sold for $1.16064, while the pound rose 0.61% against the dollar and went for $1.3253.

Related Links: 
Author:
Breaking the News / DJ