European Stock Indexes Slide After Oil Tops $105

Dow Jones
Yesterday

1317 GMT - European stock indexes turn negative after Brent crude oil topped $105, heightening inflation concerns for the continent. The Europe-wide Stoxx 600 slides 0.6% to trade at its lowest level since July 8. Technology stocks are the sharpest fallers, with a sector gauge dropping 1.9%. Energy-intensive industrials and aerospace stocks also slide. London's FTSE 100 drops 0.4% even as oil majors gain, with miners bearing the brunt of losses. Copper and silver miner Antofagasta falls 5.8%. Germany's DAX falls 0.55%. AI-linked infrastructure group Hochtief tumbles 6.1%, while Adidas falls 3%. In Paris, the CAC 40 falls 0.4% as luxuries continue to shed value. Bellwether LVMH loses 1.1%. The semiconductor-dominated AEX falls 0.5% in Amsterdam, with ASML--Europe's most valuable company--dropping 3%.

 

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