European markets close slightly lower after surprise OPEC+ cut; oil and gas stocks up 4%
Publishing timestamp: 2023-04-04 06:17:56
Summary
European stock markets closed slightly lower on Monday, with the oil and gas sector and banks seeing gains, but all other sectors were in negative territory. The surprise production cut by OPEC+ intensified inflation fears and increased investor bets on the Federal Reserve remaining hawkish for longer, but the knee-jerk reaction is fading as markets pivot back toward deeper disinflationary fundamentals. Demand for metals such as copper, nickel, and lithium is set to rise, but unexpected announcements like the OPEC+ production cuts will likely add pressure to European economies.
Sentiment: MIXED
Tickers: .DXY, COPJ, GALP-PT, GBP=, .GDAXI, .FCHI, .FTSE, BP, .STOXX, TTE-FR, .FTMIB, SHEL-GB, BP.-GB, URTH, @ND.1, UBS, @LCO.4, @CL.1, EMG-GB, ENR-DE, HBR-GB, .SPX, XAU=, COPX,
Keywords: man group plc, russia, business news, galp energia sgps sa, stoxx 600, totalenergies se, dxy us dollar currency index, siemens energy ag, saudi arabia, united states, gbp/usd, breaking news: europe, shell plc, harbour energy plc, bp plc,
Source: https://www.cnbc.com/2023/04/03/european-markets-live-updates-stocks-data-opec-cut-news.html