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European stocks expected to be lower as oil price slides; earnings in focus

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European stocks are expected to open lower following lacklustre trade on Wall Street and in Asia amid a slide in the oil price.

London’s FTSE 100 is seen down 25 points at 6,992, the German DAX is expected to open 17 points lower at 10,740, while the French CAC is called down 16 points at 4,524.

Earnings disappointed investors in the U.S., particularly Apple which posted its first full-year decline in revenue since 2001. Shares in the technology giant were down over 2.7 per cent in after-hours trade.

Oil prices dipped in Asia trade after a rise in U.S. crude inventories and as hopes that OPEC will find a deal to cut production fade.

Paul

The author Paul