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Oil, Rates Pressure Europe |
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Author: Elena Todorova
123jump.com
Last Update: 12:37 PM EDT August 07 2006
European markets finished steeply lower Monday, reflecting a spike in oil prices and concerns over the U.S. Fed Reserve’s decision on interest rates Tuesday. Crude oil jumped over $1 after oil giant BP said it''s shutting down its Prudhoe Bay oil field in Alaska. The German DAX 30 tumbled 1.7%, followed by the CAC 40, also down 1.7%, while London FTSE 100 lost only 0.9%. |
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