Oil majors drag European shares lower, Siemens Energy tumbles

MG News | July 15, 2021 at 01:06 PM GMT+05:00

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July 15, 2021: European stocks fell for a second straight session on Thursday, as oil stocks slid on lower crude prices, while wind energy companies tumbled after Siemens Energy's downbeat margin outlook.

The pan-European STOXX 600 index slipped 0.4% by 0719 GMT, with oil & gas sector falling 3.3%.

UK-listed oil majors Royal Dutch Shell and BP fell almost 3%, as crude prices fell on expectations of more supplies after a compromise between top OPEC producers.

Siemens Energy dropped 11% after it scrapped its margin target as wind power division Siemens Gamesa was hit by higher-than-expected raw material and product ramp-up costs.

Siemens Gamesa fell 16%, while shares in wind turbine maker Vestas slid 6.9%.

Reuters

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KSE100	135,878.01 102.41M	-0.05% -61.86
ALLSHR	84,378.37 284.43M	-0.26% -222.02
KSE30	41,409.23 37.26M	0.09% 35.55
KMI30	190,430.14 35.58M	-0.33% -639.83
KMIALLSHR	55,514.74 126.90M	-0.40% -223.33
BKTi	38,131.60 9.49M	-0.93% -358.15
OGTi	27,614.07 3.42M	-0.63% -174.07

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	118,440.00	118,465.00 117,255.00	1700.00 1.46%
BRENT CRUDE	69.03	69.09 68.81	0.32 0.47%
RICHARDS BAY COAL MONTHLY	96.50	96.50 96.50	0.50 0.52%
ROTTERDAM COAL MONTHLY	104.50	104.50 104.25	-2.05 -1.92%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	66.96	67.00 66.73	0.44 0.66%
SUGAR #11 WORLD	16.56	16.61 16.25	0.26 1.60%