European Indexes Slide as Oil Ticks Higher

Dow Jones
Sep 23

1143 GMT - European indexes turn negative after initially opening higher, as an upturn in oil prices weighs on sentiment. Banks and technology stocks lose their early momentum to trade lower, with the Europe-wide Stoxx 600 falling 0.5%. London's FTSE 100 slips 0.2%, while the French CAC 40 drops 0.3%. Losses are most heavy for the German DAX, with the energy-sensitive index dropping 0.8%. Chip maker Infineon Technologies drops 2.7%, while autos in the index also slide. Insurer Allianz loses 3.3%, as companies that benefit from consumer inertia fall on investor concern around the impact of AI agents. The Italian FTSE MIB and Spanish IBEX 35 both drop by 0.6%. The Dutch AEX is 0.5% lower.

 

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