European stock markets mid session: stocks traded lower on a further decline in oil prices

Market news

24 February 2016

European stock markets mid session: stocks traded lower on a further decline in oil prices

Stock indices traded lower as oil prices continued to decline. Oil prices fell on comments by Saudi Arabian Oil Minister Ali Al-Naimi. He said on Tuesday that the country was not ready to cut its oil output.

Meanwhile, market participants eyed the economic data from France. French statistical office INSEE released its consumer confidence index for France on Wednesday. French consumer confidence index fell to 95 in February from 97 in January. Analysts had expected the index to remain unchanged at 97.

The British Bankers' Association (BBA) released the number of mortgage approvals in the U.K. on Wednesday. The number of mortgage approvals rose to 47,509 in January from 43,660 in December, exceeding expectations for a rise to 45,200. It was the highest level since February 2014.

Current figures:

Name Price Change Change %

FTSE 100 5,887.46 -74.85 -1.26 %

DAX 9,229.74 -187.03 -1.99 %

CAC 40 4,170.15 -68.27 -1.61 %

Foreign exchange market. European session: the British pound traded lower against the U.S. dollar on the possible Britain’s exit from the European Union

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