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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Bp Plc | LSE:BP. | London | Ordinary Share | GB0007980591 | $0.25 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-1.50 | -0.29% | 524.80 | 525.20 | 525.30 | 530.70 | 522.30 | 529.30 | 26,307,372 | 16:35:03 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Petroleum Refining | 211.6B | 15.24B | 0.8934 | 5.88 | 89.61B |
By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- New, tougher sanctions on Russia weighed on European stock markets Wednesday as investors analyzed the potential consequences of the measures. Spanish stocks, however, stood out as outperformers after better-than-expected growth data for the country.
Sanction details: Both the U.S. and the European Union agreed to expand sanctions on Russia late Tuesday, with the new restrictions targeting the Russian energy, defense, and finance sectors. In the financial sector, the EU is now curbing access to financing for state-owned banks in Russia. It will also stop exporting specific goods and technologies to the country to make it more difficult to develop oil resources over the longer term.
The U.S. Treasury said it will ban American citizens from buying new stocks or bonds from three major Russian financial institutions, limiting their access to U.S. capital markets. The three banks are Bank of Moscow , Russian Agricultural Bank, and VTB Bank .
Data: Spain surprised with some better-than-expected second-quarter economic growth data on Wednesday. The economy expanded by 0.6% in a three-month period, exceeding an estimate released last week by the country's central bank and marking the strongest growth rate in six years.
Meanwhile, more data released Wednesday showed Spanish consumer prices dropped in July for a second month in a row, stoking fears of a sustained period of deflation.
Inflation in Germany also dropped, with the EU harmonized consumer-price index rising 0.8% in July, down from 1% in June.
In France, consumer confidence stagnated in July, staying well below the long-term average.
U.S. second-quarter GDP data that came out in the afternoon gave European markets a temporary bump into positive territory, with the data beating Wall Street estimates. The economy expanded by annual rate of 4%, the fastest pace since last fall.
Market reactions: Most country-specific indexes were mired in the red and the Stoxx Europe 600 index fell 0.5% to close 340.44. France's CAC 40 index lost 1.2% to 4,312.30, and Germany's DAX 30 index gave up 0.6% to 9,593.68. The U.K.'s FTSE 100 index dropped 0.5% to 6,773.44.
Spain's IBEX 35 index climbed 0.3% to 10,937.40 on the back of the encouraging growth data.
Russia's MICEX index rose 0.9% to 1,382.14, shrugging off the new sanctions. The benchmark was halted for trade in the afternoon, but resumed trading at 2:50 p.m. London time, or 9:50 a.m. Eastern Time.
Naeem Aslam, chief market analyst at AvaTrade, explained that the European leaders made a clever choice in their measures by leaving out the gas sector, which helped push up the Russian index. Read: Relief rally in Russia as gas sector avoids sanctions
Oil stocks blues: Oil companies were the hardest hit sector in Europe, against a background of uncertainty linked to the Russian sanctions. Total SA (TOT), down 4.9%, said it's preparing for the possible impact of the measures. The comments came a day after BP PLC (BP), down 0.5%, warned that further economic restrictions on Russia could hurt its business.
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