[STOCK MARKET UPDATE] European Stock Markets Plunge Again Under Pressure from Interest Rates and Oil Prices
European markets remain under pressure this Thursday, weighed down by rising bond yields, concerns over public finances, and another spike in oil prices.
European markets continue to decline. In Paris, the CAC 40 fell 0.80% to 7,706.79 points at noon, shortly after dropping 1.22% on Wednesday. In London, the FTSE 100 was down 0.67%, the DAX fell 0.93% in Frankfurt, the EuroStoxx 50 lost 1.26%, the FTSEurofirst 300 dropped 1.03%, and the Stoxx 600 declined 0.99%.
Pressure also remains evident on banking stocks. According to Reuters, the European financial sector index was down nearly 2%, with Deutsche Bank, Santander, Société Générale, and UniCredit all trading lower for the second consecutive session.
Oil Prices Rise Again
The latest rise in oil prices is heightening market tensions: Brent crude gained $2.28, or 2.28%, to $102.28 per barrel, while WTI rose by $1.66, or 1.88%, to $89.94.
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