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1/25/2016, 6:30 PM (Source: TeleTrader)
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European markets close lower, pressured by oil

European stock markets finished the day in red, concerned by another wave of falling oil prices, which adds to otherwise atoned business confidence, and uncertainty induced by the expectations of a move from the European Central Bank.

German DAX index settled lower 0.29%, at 9,736 for the day, with two banks leading in losses: Deutsche Bank AG crushed 5.52% lower, and the Commerzbank AG lost 3.60%. Among the notable losers were also three car makers: Volkswagen AG with fall of 1.95%, Daimler AG dipped 1.71%, while the BMW (Bayerische Motoren Werke AG) slipped 0.99%. There were some winners: Fresenius Medical Care KGAA shares were the most wanted, gaining 2.51%, chemical giant Henkel AG was up 1.49%, and even the host of the trade Deutsche Börse got 1.49% in the shares’ value.

In Paris, CAC 40 closed down 0.58% at 4,311. The shares of three banks were among losers: BNP Paribas lost 2.87%, Société Générale fell 2.72%, and Credit Agricole was down 2.58% The loser of the day was rail transportation giant Alstom, with the shares slashed by 9.53%, despite fresh deal for building 800 locomotives in India. Construction company Vinci SA enjoyed healthy 2.34% rise.

London’s FSTE 100 ended the day 0.39% lower at 5,877. Again, the banks were battered the most: Lloyds Banking Group PLC lost 5.56%, Barclays PLC sipped 4.67%, and Royal Bank of Scotland Group PLC was down 4.12%. It’s the retailer chain Kingfisher PLC that was smashed hardest by 5.85% after the company’s rating was decidedly degraded by Morgan Stanley and other agencies. Anglo-Swiss commodity company Glencore PLC revelled in gains of 5.90%, winning another day after last week’s climb.

Amsterdam’s AEX index was down 0.29%, Belgian BEL 20 lost 0.43% after country’s national bank gave a grim picture of the business confidence, while the Austrian ATX ended the day essentially flat. The gains were seen in Ireland’s ISEQ 20 of 1.57%, at Denmark’s OMX Copenhagen 20 of 1.01, and in Portugal the day for PSI-20 ended with a plus of 0.28% after the one-round presidential elections.

The euro gained 0.54% to the U.S. dollar by 6:28 p.m. CET. North Sea oil benchmark Brent was down 4.43% to $30.82 a barrel at 6:19 p.m. CET.

Baha Breaking News (BBN) / ZR