Oil majors drag European shares lower, Siemens Energy tumbles

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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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256.32M
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-68.14
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608.38M
-0.48%
-413.35
KSE30 42,340.81
77.13M
-0.03%
-12.33
KMI30 193,554.51
76.19M
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305.11M
-0.79%
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6.73M
-0.94%
-260.91
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 117,670.00 121,165.00
117,035.00
-1620.00
-1.36%
BRENT CRUDE 69.23 70.77
69.14
-0.29
-0.42%
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0.00
2.20
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ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
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USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
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-0.30%
SUGAR #11 WORLD 16.79 17.02
16.71
0.05
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