European markets fall as Iraq sets cautious tone

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Córdoba) - European stocks slipped Friday as investors adopt a cautious stance amid escalating violence in Iraq, which has sent oil soaring.



The Stoxx Europe 600 dropped 0.1% to 347.41, after closing Thursday little changed, although oil companies gain boosted by crude prices advance.



Among country-specific indexes, the UK FTSE 100 slipped 0.39% and the Germany's DAX 30 fell 0.48%. The France’s CAC 40 shed 0.33%. Italy’s FTSE MIB was down 0.25% while Spain’s IBEX 35 lost 0.35%.



In the FX market, the GBP is among the best performers after BoE Governor Carney said a rate hike "could happen sooner than markets currently expect". The GBP/USD soared after the comments and it’s knocking 1.7000 doors.



Gold edged up 0.06% to $1,275 an ounce, while crude oil skyrocketed 0.95% to a fresh 9-month high of $107.55.



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