Commodity prices extended the drop, while European stocks trimmed gains as we head into the US session. The pan-European Euro Stoxx 600 index now trades just 0.1% higher on the day around 363.55 levels. At point of time, the index was up more than 0.5% at 366.08 levels.
Meanwhile, Comex copper extended losses to trade 1.71% lower at USD 2.363/pound. Brent and WTI also extended the drop to trade 1.7% and 2% lower on the day.
The slide in the commodity prices weighed over oil and mining shares across Europe. Shares in UK based Anglo American, Glencore, Tullow Oil lost 6%, 3.6%, and 3.5% respectively.
January 20, 2017 Advance in inflation across the Eurozone
Euro holds gains against the US Dollar ahead of the ECB rate decision, as majority of economists expect no major updates in the policy, while investors will be taking stock of Draghi rhetoric’s to foresee the timeframe of the next big move by the policymakers...
January 20, 2017 US oil inventory draw gave a temporally support for oil prices
Oil prices remained in red figures after Wednesday's bearish acceleration. Brent a little changed on the day and remained prone to more weakness on Thursday. The benchmark stayed neutral around 54.50 dollars per barrel flirting with the level during the European session...
January 20, 2017 Pound gives up gains
The British pound has pulled back sharply today after making its biggest 1day gain in nearly 20 years’ yesterday, as fears once again crept in about where Brexit will lead to...
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