European stocks fall for a second day

By FXstreet.com | July 31, 2014 AAA

FXStreet (Córdoba) - European stocks fell Thursday amid mixed earnings and some risk aversion. Portuguese Banco Espirito Santo SA shares were suspended after it said it will need to raise funds, while geopolitical woes continue to weigh.



The Stoxx Europe 600 fell 0.62% to 338.32. As for country-specific indexes Germany’s DAX 30 dropped 0.83% while the France’s CAC 40 lost 0.36%. The UK FTSE 100 dropped 0.06%. Meanwhile, Italy’s FTSE MIB shed 1.35% while Spanish Ibex 35 fell 1.44%.



From the data front, German unemployment fell more than expected in July. Yesterday the FOMC offered no surprises Focus turns now to US nonfarm payrolls Friday. The Federal Reserve reduced its monthly bond purchases for the sixth time to $25 billion from $35 billion.



In the FX space, the USD is consolidating its recent gains versus major competitors with the EUR/USD trading just below 1.3400 and GBP/USD printing fresh lows beneath 1.6900.



As for commodities, gold was slightly lower at $1,296 an ounce, while crude oil dropped 1.08% to $99.20 a barrel.



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