16 Jun 2014
European stocks fall amid escalating tensions in Iraq
FXStreet (Córdoba) - European stocks dropped for a second day Monday as escalating tensions in Iraq continue to weigh on market sentiment.
The Stoxx Europe 600 index fell 0.1% to 346.75, adding to a 0.2% loss from Friday. The benchmark closed last week down, halting eight weeks of gains and backing away from multi-year highs.
Among country-specific indexes, the UK FTSE 100 and Italy’s FTSE MIB were flat in early trade. Germany's DAX 30 fell 0.16% while France’s CAC 40 shed 0.13% and Spain’s IBEX 35 lost 0.22%.
Meanwhile gold futures rose 0.67% to $1282.70 an ounce while crude oil was up 0.38% at $107.32 a barrel. The violence in Iraq threatens to disrupt the country's oil supply and sent crude oil prices to a 9-month high of $107.68 a barrel last week.
The Stoxx Europe 600 index fell 0.1% to 346.75, adding to a 0.2% loss from Friday. The benchmark closed last week down, halting eight weeks of gains and backing away from multi-year highs.
Among country-specific indexes, the UK FTSE 100 and Italy’s FTSE MIB were flat in early trade. Germany's DAX 30 fell 0.16% while France’s CAC 40 shed 0.13% and Spain’s IBEX 35 lost 0.22%.
Meanwhile gold futures rose 0.67% to $1282.70 an ounce while crude oil was up 0.38% at $107.32 a barrel. The violence in Iraq threatens to disrupt the country's oil supply and sent crude oil prices to a 9-month high of $107.68 a barrel last week.