European stock markets go down as crude languishes near minimums

European stock markets go down as crude languishes near minimums

On Thursday, European stock markets went down for a third straight day because battered crude prices hovered close to seven-month minimums reached overnight on concerns about a supply glut as well as declining demand.

Britain's FTSE 100, France's CAC 40 and Germany's DAX - all tumbled 0.3-0.4% because trading in the EU got under way. As for American stock futures, they lost too.

Steep drops in crude prices this week have affected energy stocks and also dampened traders' expectations for higher inflation, which would justify tighter monetary policies by key central banks.

In Asia, MSCI's broadest index of Asia-Pacific stocks rose 0.6%. However, Japan's Nikkei N225 concluded a touch lower because a stronger yen along with a dip in the stocks of auto air bag-maker Takata Corp affected market sentiment.

American crude futures declined, hitting $42.50 a barrel. On Wednesday, they lost 1.6%, having hit their lowest value since August.

 

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