6/14/2016, 5:49 PM (Source: TeleTrader)
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European markets finish sharply lower

European stock markets saw a day of losses, as the trade was influenced mostly by the fears and uncertainty about the outcome of the British referendum on the membership in the European Union. The latest polls show that "leave" camp leads by 7 percentage points against the "remain" camp.

The pan-European Stoxx 600 finished 1.89% lower, while the Euronext 100 fell 2.11% with ArcelorMittal as the worst performer at Euronext.

In Germany, the DAX ended 1.37% lower at 9,527 points. RWE, Deutsche Bank and Lufthansa landed lowest, while Henkel and Fresenius were the only gainers.

The French CAC 40 rolled down 2.32% to 4,129 points. ArcelorMittal dropped 4.41%, while Sanofi, Total, Renault, Vivendi lost well over 2% each.

Across the Channel, the FTSE 100 fell 1.72% to 5,940 points. Mining firms, Sky and Morrison Supermarkets declined the most, while Asthead was the only advancer.

In Milan, the FTSE MIB finished 2% lower at 16,286 points as banks, Unipol, Telecom Italia saw losses in the range 4-6%. Saipem and Ferrari just held up.

The Swiss Market Index dropped 1.84%. Banks and insurance companies were among notable losers.

Oil prices were lower as Brent traded 0.56% cheaper at $49.72 a barrel and West Texas Intermediate slid 0.41% to $48.41 a barrel by 5:33 p.m. CET at ICE Futures Europe.

The euro fell 0.70% against the U.S. dollar, and the British pound lost 0.21% to the euro, while Swiss franc was 0.82% stronger versus the euro at 5:48 p.m. CET. Gold fell 0.20% at $1,281.03 per troy ounce.


Image: EPA

Baha Breaking the News (BBN) / ZR