Wednesday, July 1, 2009

European Market News

Consumer confidence in the US weaker than expected influenced European markets late Tuesday. That rattled the banks stocks. Deutsche Bank, HSBC and Societe Generale were down between 1.5 and 2.5 percent.

Due to sharp price rise for precious metals the quotes of mining enterprises inclined. Oil prices also took a more than 3 percent tumble, bringing energy shares down. Currency market was influenced by money flows related to the end of month and quarter. In Frankfurt USD/EUR trades ended at the level of 1.4016.

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