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Europe Hit by Surging Oil |
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Author: Elena Todorova
123jump.com
Last Update: 12:57 PM EDT June 05 2006
European markets closed mostly in the negative, dragged down by rising crude oil prices and weakness on Wall Street. Surging oil weighed on many sectors but supported oil stocks. Automakers like Renault and DaimlerChrysler moved to the downside, while shares of oil majors like Royal Dutch Shell and BP advanced. The German DAX 30 dropped 1.2%, the French CAC 40 lost 0.9%, while London FTS 100 added slightly to 5,767. |
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