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Energy Stocks Send European Shares Down |
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2:22 PM EDT April 04 2006 |
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European markets closed in the red, reflecting losses in the energy sector as well as weakness in mining stocks. Oil prices retreated to send energy stocks lower. BP dropped 1.5%, Royal Dutch Shell fell 0.7%, and Total declined 1.8%. Miners such as Rio Tinto and BHP Billiton failed to sustain recent gains. Arcelor eased 0.9% after it unveiled a series of takeover defenses, including a special payment of more than $6 billion to shareholders. Automakers posted gains, following the release of U.S. sales data yesterday. The German DAX 30 fell 0.2%, the French CAC 40 lost 0.9%, and London FTSE 100 dropped 0.3%. |
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