Oil majors drag European shares lower, Siemens Energy tumbles

By 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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Name	Price/Vol	%Chg/NChg
KSE100	131,949.07 198.95M	0.97% 1262.41
ALLSHR	82,069.26 730.83M	0.94% 764.01
KSE30	40,387.76 80.88M	1.11% 442.31
KMI30	191,376.82 77.76M	0.36% 678.77
KMIALLSHR	55,193.97 350.11M	0.22% 119.82
BKTi	35,828.25 28.42M	3.64% 1259.85
OGTi	28,446.34 6.84M	-1.02% -293.01

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	109,205.00	110,525.00 109,125.00	-1210.00 -1.10%
BRENT CRUDE	68.18	68.89 67.75	-0.62 -0.90%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	0.75 0.78%
ROTTERDAM COAL MONTHLY	108.45	0.00 0.00	0.25 0.23%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	66.38	67.18 66.04	-0.62 -0.93%
SUGAR #11 WORLD	16.37	16.40 15.44	0.79 5.07%