European Shares Fall
October 27 2016 - 4:30AM
Dow Jones News
Shares in Europe and Asia mostly fell Thursday, dragged down by
a decline in commodity-related stocks following disappointing
Chinese data and a slide in oil prices Wednesday.
The Stoxx Europe 600 was down 0.4% in early trade. In Asia, Hong
Kong's Hang Seng Index declined 1%, while the Nikkei Stock Average
was down 0.3%.
Brent crude oil prices were roughly flat at $51.05 a barrel
after hitting a three-week low Wednesday on concerns that an
agreement from the Organization of the Petroleum Exporting
Countries to cut production may not materialize. Data showing a
sharp fall in Chinese industrial profit growth in September from
the previous month also weighed on sentiment.
In Europe, shares in Deutsche Bank AG rose 0.6% after the
embattled German lender posted an unexpected profit and set aside
more cash to cover litigation costs. Shares in Barclays PLC were up
0.7% after the lender reported roughly flat net profits in the
third quarter compared with the previous year as well as a sharp
bump in fixed income revenue.
Investors will focus on the release later of third-quarter
growth domestic products figures from the U.K., which will provide
a crucial glimpse into the performance of the British economy
following its vote to leave the European Union in June. The pound
fell 0.3% against the dollar to $1.2205 recently, taking losses for
the month to around 6%.
Futures markets pointed to a small opening loss on Wall Street
after the Dow Jones Industrial Average closed higher Wednesday.
Company earnings season remains in full swing, with results
expected later from Ford Motor Co. before the U.S. open and Google
parent Alphabet Inc. after the close.
Willa Plank contributed to this report
Write to Christopher Whittall at
christopher.whittall@wsj.com
(END) Dow Jones Newswires
October 27, 2016 04:15 ET (08:15 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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