European Stocks Drop Amid a Calm Session
The stocks on the European bourses snapped previous rally and turned
back into the red zone, closely tracking the oil price action and risk
sentiment prevalent in the markets.
Moreover, mixed trading
witnessed in the Asian indices, as the Japanese stocks drifted sharply
lower on yen’s comeback, further adding to the downbeat moods around the
European equities.
While traders were left unimpressed by the
UK factories data, which showed that the total industrial production
picked up to 0.3% m/m from a fall of 0.2% a month before, but less than
expected. While the manufacturing production in the UK rebounded 0.1% in
March from a decline of 0.9% a month before, although missed estimates
of a 0.4% increase.
Meanwhile, Germany's DAX 30 index drops
-0.55% to 9,990, while the UK's FTSE 100 index trades -0.14% lower at
6,150. Among the other indices, the French CAC 40 index loses -0.88% to
4,300, while the pan-European benchmark, the Euro Stoxx 50 index drops
-0.77% to 2,950 points.
