EUROPE MARKETS: European Stocks Slip In Thin Volumes With U.K., U.S. Markets Closed
29 May 2017 - 6:48PM
Dow Jones News
By Sara Sjolin, MarketWatch
British Airways almost back to full schedule
European stocks kicked off the week in slightly negative
territory on Monday, with market holidays in the U.S. and U.K.
denting trading volumes.
The Stoxx Europe 600 index fell 0.1% to 390.96, setting the
pan-European index on track for a third straight day of losses.
The index fell on Thursday and Friday, with oil and gas shares
leading the charge lower after disappointing over OPEC's decision
to extend its production accord, but not deepen the cuts. Crude oil
tumbled 4.8% after the call on Thursday, but rose on Friday and
continued to recover on Monday. The July contract was up 0.1% at
$49.85 a barrel.
Stock movers: Shares of Intesa Sanpaolo SpA (ISP.MI) lost 1.6%
as the Financial Times reported that the Italian bank is set to
close branches and cut costs in a strategy shift
(https://www.ft.com/content/2b30af56-4237-11e7-9d56-25f963e998b2).
In the U.K., British Airways said it had resumed almost all
flights after a major IT outage over the weekend
(http://www.marketwatch.com/story/british-airways-travelers-suffer-delays-cancellations-owing-to-computer-glitch-2017-05-27)
left all their flights leaving from Heathrow and Gatwick airports
grounded.
There was no trading in shares of BA-owner International
Consolidated Airlines Group (IAG.LN) (IAG.LN) due to the U.K.
holiday.
Indexes: Germany's DAX 30 index was flat at 12,593.06, while
France's CAC 40 index lost 0.2% to 5,325.84.
The U.K.'s FTSE 100 index was closed for trading due to the
spring bank holiday. U.S. stock markets were also closed for
Memorial Day.
Read: When do markets close for Memorial Day?
(http://www.marketwatch.com/story/when-do-markets-close-for-memorial-day-2017-05-24)
(END) Dow Jones Newswires
May 29, 2017 04:33 ET (08:33 GMT)
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