Europe markets close marginally lower as oil stocks fall; UK pound hits 10-month high
Publishing timestamp: 2023-04-04 11:56:01
Summary
European stocks closed slightly lower on Tuesday, with the oil and gas sector giving up some gains following a surprise production cut by the OPEC+ alliance. The insurance and financial services sectors finished 0.5% higher, while oil and gas stocks posted the steepest decline, shedding 0.1% after their 4% gain on Monday. The British pound traded higher against the U.S. dollar, hitting a 10-month high of $1.2525 after the Bank of England's chief economist warned domestically-generated inflation remained a key risk, and data showed U.S. job openings fell sharply in February. Credit Suisse faced shareholders for the first time since its takeover by UBS last month, and L'Oreal agreed to buy Australian luxury brand Aesop from Natura & Co for an enterprise value of $2.53 billion.
Sentiment: NEUTRAL
Tickers: .STOXX, .FTMIB, OR-FR, UBSG-CH, .GDAXI, CSG.N-CH, .FCHI, .FTSE, 0R3T-GB, UBS, 8GCA-FF,
Keywords: ubs group ag, business news, stoxx 600, united states, breaking news: europe, credit suisse group ag,