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Dec. 9, 2015, 12:38 p.m. EST

European stocks end lower after late-session slump

German exports drop

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By Carla Mozee and Sara Sjolin, MarketWatch


Reuters

European stocks fell for a second straight session Wednesday, as investors searched for direction amid volatility in the commodity markets.

The Stoxx Europe 600 /zigman2/quotes/210599654/delayed XX:SXXP -3.26%  ended 0.4% lower at 364.19, after swinging between gains and losses throughout the trading. Shortly ahead of the close, the pan-European benchmark was comfortably in positive territory, but started to erase gains as oil prices turned lower.

Earlier in the session, crude oil /zigman2/quotes/209723602/delayed CLF26 -54.38%  traded with an almost 4% gain after a U.S. government report revealed that domestic crude supplies fell for the first time in 11 weeks. This helped prop up oil companies in Europe, which for the most part closed higher. Shares of Royal Dutch Shell PLC /zigman2/quotes/204253697/delayed UK:RDSB -10.44%   /zigman2/quotes/207682964/composite RDS.B -10.22%  gained 1.7% and BP PLC   /zigman2/quotes/207305210/composite BP -8.48%  climbed 0.8%.

The Stoxx 600 had started higher following Tuesday’s drop of 1.8% that was led by a slump in metals and energy producers.

“It’s worth pointing out, however, that sentiment continues to appear weak and the market really does need some fresh direction to be served up, otherwise the risk is that stocks end up becalmed as many investors remain side-lined until that key U.S. interest rate verdict next week,” said Tony Cross, market analyst at Trustnet Direct, in a note.

Movers: Among companies on the decline on Wednesday, Anglo American PLC /zigman2/quotes/201381512/delayed UK:AAL -3.15% dropped 1.2%. That adds to Tuesday’s 12.3% tumble that came after Anglo’s decision to suspend dividend payments through 2016, cut capital spending by another $1 billion and reduce its workforce by more than half.

Jefferies on Wednesday cut its rating on Anglo American to underperform from hold and said there’s a risk Anglo American will launch an equity issuance.

Stagecoach Group PLC /zigman2/quotes/206082799/delayed UK:SGC -3.93%  slumped 14% after issuing a sales warning.

Bayer AG /zigman2/quotes/210533053/delayed DE:BAYN -2.60%  ended 2.1% lower after news of the possible Dow Chemical Co. /zigman2/quotes/203121064/composite DOW -3.77%  and DuPont Co. /zigman2/quotes/203606582/composite DD -5.90%  merger.

Indexes: Germany’s DAX 30 /zigman2/quotes/210597999/delayed DX:DAX -3.68%  dropped 0.8% to 10,592.49, while France’s CAC 40 /zigman2/quotes/210597958/delayed FR:PX1 -4.23%  fell 1% to 4,637.45.

The U.K’s FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX -5.25% lost 0.1% to 6,126.68.

Data: German exports fell 1.2% in October from September, hurt by lower demand from China, Russia and other economies that have seen slowing growth. But total German exports at 106.2 billion euros ($115.90 billion) were 3.3% higher than in October last year, in non-adjusted terms, helped by strong European orders.

/zigman2/quotes/210599654/delayed
XX : STOXX
310.90
-10.48 -3.26%
Volume: 0.00
March 27, 2020 5:50p
loading...
/zigman2/quotes/209723602/delayed
US : U.S.: Nymex
$ 44.42
-52.94 -54.38%
Volume: 0.00
March 27, 2020 5:06p
loading...
/zigman2/quotes/204253697/delayed
UK : U.K.: London
1,230.60 p
-143.40 -10.44%
Volume: 19.96M
March 27, 2020 4:35p
P/E Ratio
8.03
Dividend Yield
12.37%
Market Cap
£95.97 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/207682964/composite
US : U.S.: NYSE
$ 29.77
-3.39 -10.22%
Volume: 15.99M
March 27, 2020 6:30p
P/E Ratio
7.63
Dividend Yield
12.63%
Market Cap
$55.20 billion
Rev. per Employee
$4.75M
loading...
/zigman2/quotes/207305210/composite
US : U.S.: NYSE
$ 22.35
-2.07 -8.48%
Volume: 23.22M
March 27, 2020 6:30p
P/E Ratio
18.69
Dividend Yield
11.19%
Market Cap
$74.85 billion
Rev. per Employee
$4.03M
loading...
/zigman2/quotes/201381512/delayed
UK : U.K.: London
1,352.00 p
-44.00 -3.15%
Volume: 4.59M
March 27, 2020 4:35p
P/E Ratio
6.25
Dividend Yield
6.53%
Market Cap
£16.57 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/206082799/delayed
UK : U.K.: London
74.55 p
-3.05 -3.93%
Volume: 917,729
March 27, 2020 4:35p
P/E Ratio
3.21
Dividend Yield
5.10%
Market Cap
£410.16 million
Rev. per Employee
N/A
loading...
/zigman2/quotes/210533053/delayed
DE : Germany: Frankfurt
50.89
-1.36 -2.60%
Volume: 16,975
March 27, 2020 8:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
€338,348
loading...
/zigman2/quotes/203121064/composite
US : U.S.: NYSE
$ 28.56
-1.12 -3.77%
Volume: 9.10M
March 27, 2020 6:30p
P/E Ratio
N/A
Dividend Yield
9.80%
Market Cap
$21.21 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/203606582/composite
US : U.S.: NYSE
$ 33.83
-2.12 -5.90%
Volume: 6.00M
March 27, 2020 6:30p
P/E Ratio
51.07
Dividend Yield
3.55%
Market Cap
$25.01 billion
Rev. per Employee
$877,316
loading...
/zigman2/quotes/210597999/delayed
DAX
DX : Xetra Indices
9,632.52
-368.44 -3.68%
Volume: 110,083
March 27, 2020 6:30p
loading...
/zigman2/quotes/210597958/delayed
FR : France: Euronext Paris
4,351.49
-192.09 -4.23%
Volume: 90,181
March 27, 2020 6:05p
loading...
/zigman2/quotes/210598409/delayed
UK : FTSE UK
5,510.33
-305.40 -5.25%
Volume: 834,872
March 27, 2020 4:45p
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Carla Mozée is a reporter for MarketWatch, based in London. Follow her on Twitter @MWMozee. Sara Sjolin is a MarketWatch reporter based in London. Follow her on Twitter @sarasjolin.

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