European stocks drop, Euro Stoxx 600 down 0.7%

By FXStreet FXStreet (Mumbai) – The European stocks ended the three day winning streak amid renewed risk aversion on account of a drop in the US stocks yesterday.

At the time of writing, Euro Stoxx 600 index was down 0.77% to 360.97 levels. A measure of European stock volatility ticked up 2.7%; its first gain since Monday. Earlier today, the two-day rally in the Asians stocks stalled as the MSCI Asia Pacific Index fell, while Japan’s Nikkei pared some of Wednesday’s gains.

Among the Stoxx 600 stocks, BHP Billiton and Tullow Oil declined 4% each. The Greek lender Alpha Bank added another 2.9%, Dixons Carphone strengthened 2.17%. Shares in EON SE dropped 4.2% after canceling plans to spin off its German nuclear plants.

Euro Stoxx 600 Technical Levels

The immediate resistance is located at 371.33 (July 8 low), ahead of the major hurdle at 381.73 (Aug 12 low). On the other side, support is seen at 359.17 (daily low) and 350.69 (Sep 1 low).
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Source:: FX Street