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<Europe>European Bourses Initially Soft; Financials Wane; Defense Stocks Rise
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European bourses were initially soft today (12th), as rising oil prices exacerbated market concerns about inflation, and the market continued to focus on the Middle East conflict. Defense stocks advanced, while financial stocks were meager. The pan-European STOXX 600 fell 0.3% to 600.85. The UK's FTSE 100 lost 36 points or nearly 0.4% to 10,317. France's CAC 40 sagged 28 points or 0.4% to 8,012. Germany's DAX shed 28 points or 0.1% to 23,611. Spain's IBEX 35 sank 132 points or 0.8% to 17,219. Italy's FTSE MIB lost 47 points or 0.1% to 44,725. Defense stocks advanced, with Dassault Aviation, Rheinmetall, and BAE Systems up 3.2-3.7%, Leonardo up 9.1%, and Thales up 4.4%. Regarding US stock futures, DJIA futures slumped 273 points or 0.6% to 47,175. S&P 500 futures shrank 31 points or 0.5% to 6,748. Nasdaq 100 futures faded 121 points or 0.5% to 24,862. AASTOCKS Financial News Website: www.aastocks.com |
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