8/9/2021, 5:31 PM (Source: TeleTrader)
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Europe closes mostly lower on oil price drop

Major European stock markets closed the first trading session of the week mostly with losses as fuel companies tumbled on the drop in oil prices. Oil futures sank by over 4% mostly triggered by fears of the effect that Delta strain could have on the markets.

Meanwhile, Sentix released a report showing that euro area investor confidence dropped sharply in August, missing analyst expectations. British Deliveroo rose nearly 9% to a record high following the announcement that the German Delivery Hero company has taken a 5.09% stake in the business.

The DAX dropped 0.10% as Delivery Hero fell by 3.20%. The FTSE 100 gained 0.13% led by Sse PLC adding 5.01%, while the CAC 40 closed with 0.06% below the flatline with Unibail-Rodamco-Westfield losing 3.60%. The euro slid by 0.08% against the dollar to sell for $1.17520 at 5:29 pm CET, at the same time the British pound decreased by 0.10% exchanging hands for $1.38596.

Baha Breaking News (BBN) / LH