GLOBAL MARKETS-Oil price's decline weighs on global stock markets

Wed Apr 20, 2016 4:28am EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* Oil prices retreat as Kuwait strike ends

* World stock markets lose ground

By Sudip Kar-Gupta

LONDON, April 20 (Reuters) - Stocks fell around the world on Wednesday as the price of crude declined after a strike by Kuwaiti oil workers ended.

Brent and U.S. crude oil futures prices dropped as worries about oversupply in the oil market returned to the fore.

The FTSEurofirst 300 index of leading European shares responded by falling 0.3 percent. The MSCI All-Country World index also fell.

The MSCI World Index, which tracks stocks from developed economies, slipped 0.1 percent and the MSCI Emerging Market index dropped 0.7 percent.

Recent gains by European stocks, which reached three-month highs earlier this week, were just a temporary bounce in a longer-term decline, said Andreas Clenow, a hedge fund manager at ACIES Asset Management. The FTSEurofirst remains down around 5 percent so far in 2016.

"We are still in a bear market," Clenow said.   Continued...