EUROPE MARKETS: Stoxx Europe 600 Posts 3rd Straight Loss On Commodity Slump
26 Outubro 2016 - 2:32PM
Dow Jones News
By Carla Mozee and Victor Reklaitis, MarketWatch
Tullow Oil among the day's notable losers
European stocks finished lower Wednesday, with energy shares
slightly paring losses as oil prices came off session lows.
Investors also expressed disappointment over a new round of
financial updates.
The Stoxx Europe 600 gave up 0.4% to close at 341.76,
registering its third loss in a row. On Tuesday, the pan-European
index fell 0.4%.
The oil-and-gas sector dropped, but recovered from session lows
as crude prices pared earlier steep losses. That move came after
the U.S. Energy Information Administration unexpectedly reported a
decline in domestic crude supplies
(http://www.marketwatch.com/story/oil-prices-turn-higher-after-eia-reports-unexpected-600000-million-barrel-decline-in-us-crude-supply-2016-10-26)
by 600,000 barrels in the week ended Oct. 21. Analysts polled by
S&P Global Platts had expected a rise of 400,000 barrels. Late
Tuesday, industry group American Petroleum Institute reported an
increase of 4.8 million barrels.
Among oil producers, Portugal's Galp Energia (GALP.LB) gave up
1.7%, and Tullow Oil PLC (TLW.LN) shed 1.4%. Meanwhile, shares of
Italian energy engineering services company Saipem SpA (SPM.MI)
fell 3%.
Elsewhere in the commodities space, shares of Antofagasta PLC
(ANTO.LN) lost 3.2% after the miner said it expects this year's
copper output to be close to the lower end
(http://www.marketwatch.com/story/antofagasta-copper-output-up-reaffirms-guidance-2016-10-26)
of its forecast of 710,000-740,000 tons.
Other movers: Novozymes A/S (NZYM-B.KO) plunged 11% after the
Danish enzymes maker's third-quarter quarterly results came in
below expectations and the company reduced its fiscal-year
forecast.
Telenor ASA shares (TEL.OS) ended down 5.6%. The Norwegian
telecom's third-quarter net loss widened to 4.82 billion Norwegian
kroner
(http://www.marketwatch.com/story/telenor-earnings-hit-by-vimpelcom-impairments-2016-10-26-14854650)
($582.68 million) on costs related to partially selling its stake
in telecom VimpelCom Ltd. (VIP)
Kering's stock (KER.FR) leapt to close up 7.8% after the
luxury-goods maker said quarterly sales climbed 10%
(http://www.marketwatch.com/story/kerings-sales-jump-helped-by-turnaround-at-gucci-2016-10-26),
aided by a turnaround at Gucci--its largest brand.
Logitech International SA's stock (LOGI) rallied 17% after the
Swiss computer accessories maker's second-quarter per-share
earnings of 25 cents beat a FactSet consensus estimate of 25 cents
a share. Revenue of $564.3 million also outstripped expectations of
$524 million.
Airbus Group SE (AIR.FR) rose 3.8%, pushing past the aircraft
maker's report that its most closely watched earnings measure fell
21%
(http://www.marketwatch.com/story/airbus-quarterly-profit-falls-sales-slip-2016-10-26).
Indexes: Germany's DAX 30 fell 0.4% to close at 10,709.68, and
France's CAC 40 dipped 0.1% to 4,534.59.
The U.K's FTSE 100 lost 0.9% to end at 6,958.09.
The euro was changing hands at $1.0917, up from $1.0885 late
Tuesday in New York.
(END) Dow Jones Newswires
October 26, 2016 12:17 ET (16:17 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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