Investing.com – European stock markets were broadly lower on Monday, as market sentiment was weighed by lingering sovereign debt contagions fears, while U.S. futures indexes pointed to a lower open on Wall Street.
During European morning trade, the EURO STOXX 50 tumbled 1.20%, France’s CAC 40 slumped 1.31%, while Germany's DAX was down 0.61%.
Shares in the financial sector performed poorly after media outlets reported over the weekend that Germany and France were pressuring Portugal to accept a bailout of as much as EUR100 billion. The reports were subsequently denied by Portugal.
Shares in Europe’s largest lender BNP Paribas plunged 2.79%, Spain’s biggest bank Banco Santander saw shares tumble 2.24%, while shares in Portugal’s biggest publicly traded bank Banco Comercial Portugues plummeted 4.42%.
Elsewhere, shares in Europe’s largest telephone company Deutsche Telekom dropped 1.44% after the stock was downgraded by Credit Suisse.
Also Monday, shares in the world’s largest maker of food ingredients Danisco rallied 25.28% after it agreed to be acquired by the world’s second biggest chemical company DuPont for approximately USD5.8 billion.
In London, the commodity-heavy FTSE 100 shed 0.37% as commodity prices were pressured lower.
Shares in the world’s largest mining group BHP Billiton tumbled 1.20%, rival Rio Tinto saw shares slump 1.53%, while shares in copper producer Xstrata fell 1.25%.
Meanwhile, shares in oil giant British Petroleum dropped 1.84% after a pipeline leak forced the company to shut down 95% of production at the Trans-Alaska Pipeline System, its biggest oil field in North America.
The outlook for U.S. equity markets, meanwhile, was downbeat. The Dow Jones Industrial Average futures pointed to a drop of 0.33%, S&P 500 futures indicated a decline of 0.47% and Nasdaq 100 futures pointed to a loss of 0.42%.
Later in the day, the largest U.S. aluminum producer Alcoa was to be the first Dow Jones Industrial Average component to report earnings for the fourth quarter.
During European morning trade, the EURO STOXX 50 tumbled 1.20%, France’s CAC 40 slumped 1.31%, while Germany's DAX was down 0.61%.
Shares in the financial sector performed poorly after media outlets reported over the weekend that Germany and France were pressuring Portugal to accept a bailout of as much as EUR100 billion. The reports were subsequently denied by Portugal.
Shares in Europe’s largest lender BNP Paribas plunged 2.79%, Spain’s biggest bank Banco Santander saw shares tumble 2.24%, while shares in Portugal’s biggest publicly traded bank Banco Comercial Portugues plummeted 4.42%.
Elsewhere, shares in Europe’s largest telephone company Deutsche Telekom dropped 1.44% after the stock was downgraded by Credit Suisse.
Also Monday, shares in the world’s largest maker of food ingredients Danisco rallied 25.28% after it agreed to be acquired by the world’s second biggest chemical company DuPont for approximately USD5.8 billion.
In London, the commodity-heavy FTSE 100 shed 0.37% as commodity prices were pressured lower.
Shares in the world’s largest mining group BHP Billiton tumbled 1.20%, rival Rio Tinto saw shares slump 1.53%, while shares in copper producer Xstrata fell 1.25%.
Meanwhile, shares in oil giant British Petroleum dropped 1.84% after a pipeline leak forced the company to shut down 95% of production at the Trans-Alaska Pipeline System, its biggest oil field in North America.
The outlook for U.S. equity markets, meanwhile, was downbeat. The Dow Jones Industrial Average futures pointed to a drop of 0.33%, S&P 500 futures indicated a decline of 0.47% and Nasdaq 100 futures pointed to a loss of 0.42%.
Later in the day, the largest U.S. aluminum producer Alcoa was to be the first Dow Jones Industrial Average component to report earnings for the fourth quarter.