European stocks in red as oil weighs over commodity stocks

By FXStreet Drop in oil prices today weighed over commodity shares across Europe and pushed major indices into losses.

At the time of writing, Stoxx 50 index was down 0.40% and Stoxx 600 index was trading 0.85% lower. Germany’s DAX and France’s CAC traded with 0.40% and 0.60% lower respectively. UK’s mining heavy FTSE was down 0.60% as well.

Shares in ArcelorMittal were down 24.8%. In London, Anglo American, Antofagasta, BHP Billiton, Tullow Oil were all down more than 5% each. Norway’s Seadrill was down 4.8% as well.

Meanwhile, winning side included names like shares in British online supermarket Ocado, French telecom operator SFR. The company reported core operating profit growth of 20%.
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Source:: FX Street