1 minute ago by Reuters1 minute ago by Reuters1 minute ago by Reuters1 Read (Click LIVE/ or type LIVE/ in a news window for a Reuters live blog on U.S., UK, and European financial markets.) 15 JULY (Reuters) – On Thursday, European equities declined for the second day in a row, with oil stocks falling due to lower crude prices and wind energy businesses falling due to Siemens Energy’s gloomy margin projection. By 0719 GMT, the pan-European STOXX 600 index had fallen 0.4 percent, with the oil and gas sector down 3.3 percent. Royal Dutch Shell and BP, both traded in the United Kingdom, slumped nearly 3% as crude prices fell on anticipation of increased supplies following an OPEC deal. Siemens Energy fell 11% after scrapping its margin target due to higher-than-expected raw material and product ramp-up costs at Siemens Gamesa, the company’s wind power division. Siemens Gamesa was down 16%, while Vestas, a developer of wind turbines, was down 6.9%. (Bengaluru-based reporter Sruthi Shankar contributed to this report; Uttaresh.V edited it.)/n
Read More
