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11/23/2018, 5:35 PM (Source: TeleTrader)
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Europe closes mixed as oil prices slump

European equities closed mixed on Friday amid sinking oil prices. Crude extended losses on oversupply fears, with international benchmark Brent dropping to its lowest level in a year, while West Texas Intermediate futures traded at their lowest since October 2017.

Meanwhile, investors continue to monitor Brexit ahead of Sunday's crucial summit. After agreeing on a draft political declaration on the future relationship, the United Kingdom and the European Union are set to approve the document this weekend.

The DAX gained 0.49% as Lufthansa jumped 2.85% as the top performer. Meanwhile, the CAC 40 advanced 0.18%; Renault climbed 2.28%, followed by Safran rising 2.25%. In London, the FTSE 100 declined 0.11%; mining company Fresnillo led the declines as it dipped 4.68%. The euro fell 0.60% against the dollar at 5:36 pm CET, buying 1.1335.

Breaking the News / JC