European stocks on the back foot as Oil retreats, US GDP eyed
The European equities extended its subdued tone for the second straight session this Friday, trading little changed amid a lack of fresh fundamental triggers and increased nervousness ahead of the US growth numbers and Fed Chairperson Yellen’s speech due later in the NA session.
Adding to the cautious tone in the markets, a retreat in the oil prices from $ 50 mark weighs down on the resource and energy sector stocks. Oil prices slipped from seven-month highs amid resurgence of oversupply concerns.
Meanwhile, Germany’s DAX 30 index drops -0.20% to 10,252, while the UK’s FTSE 100 index trades muted around 6,262. Among the other indices, the French CAC 40 index slips -0.27% at 4,500 levels, while the pan-European Euro Stoxx 50 index declines -0.18% to 3,070 points.
Source:: FX Street
