STOXX 600 stutters; miners, energy fall
STOXX 600 falls 0.4%
Energy, miners weigh
Indian markets plunge
Wall St futures lower
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STOXX 600 stutters; miners, energy fall
Europe's STOXX 600 index is falling on Tuesday as miners and energy stocks weigh due to weaker commodity prices overnight, while defensive sectors outperform.
The pan-European benchmark .STOXX is down 0.4%, with the oil and gas sector .SXEP shedding almost 2% as oil prices extend losses to a fresh four-month low.
Defensive sectors - such as healthcare .SXDP, food and beverages .SX3P and utilities .SX6P - are the better performers as the main index takes a breather following three straight days of gains.
In corporate news, Danish shipping firm Maersk MAERSKb.CO is up over 2% after raising its guidance for the second time in a month, while energy giant BP BP.L is down over 3% to a three-month low. As well as the weak oil prices, S&P cut the company's credit outlook to stable from positive over debt levels.
Switzerland's defensive-heavy SMI .SSMI outperforms slightly with Swiss inflation printing in-line with expectations.
Away from Europe, Indian markets are tumbling, reversing all of the more than 3% gain on Monday and some, after Modi's election victory looks set to be by a smaller margin than exit polls predicted. India's NIFTY 50 .NSEI and Sensex .BSESN are both down about 5.5%.
Here's your opening snapshot:
(Samuel Indyk)
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TUESDAY'S OTHER LIVE MARKETS POSTS:
EUROPEAN STOCK FUTURES SAG CLICK HERE
DAZED DOLLAR SET FOR MORE MACRO JOLTS?CLICK HERE
Payroll growth fell in April Payroll growth fell in April https://tmsnrt.rs/3deZoGA
European stocks mostly lower https://reut.rs/4c5q98Z
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