RTTNews - The European markets fell on Tuesday after a report showed U.S. consumer confidence unexpectedly deteriorated in June and energy and mining stocks retreated on weaker crude oil and base metals prices.
The Conference Board in the U.S. said its consumer confidence index fell to 49.3 in June from a revised 54.8 in May. The decrease surprised economists, who had expected the index to edge up to 55.3 from the 54.9 originally reported for the previous month.
Crude for August delivery fell $1.89 to $69.60 a barrel on the New York Mercantile Exchange, by the time the European markets closed, after swinging between $69.03 and $73.38 in early trading.
The FTSEurofirst 30 index of pan-European blue chips closed 1.10% lower at 850.17 points, while the narrower DJ Stoxx 50 index fell 1.22% to 2,098.28 points.
Around Europe, the U.K.'s FTSE 100 index fell 1.04% to 4,249.21, while France's CAC 40 index dropped 1.67% to 3,140.44 and Germany's DAX index slipped 1.56% to 4,808.64.
Heavily weighted oil stocks lost ground after crude oil prices fell. BP, Europe's biggest oil company, slid 1.6%, while Royal/Dutch Shell, the second biggest, dropped 1.2% and Total, the third biggest, fell 1.3%.
Similarly, mining stocks suffered losses after base metals prices retreated. BHP Billiton, the world's biggest miner, declined 0.5%, while Anglo American, the second biggest, dropped 2.7% and Rio Tinto, the third biggest, slipped 2.2%. Copper miner miner Antofagasta lost 1.8%.
Banking stocks were also among the major losers. HSBC, Europe's largest bank, fell 1.7%, while BNP Paribas, France's largest bank, slipped 2.6% and Deutsche Bank, Germany's biggest lender, dropped 2.9%.
During the first half of 2009, the FTSEurofirst 300 index gained 2.19%, compared to a 20.26% drop in the first half of 2008.
The U.K.'s FTSE 100 index fell 4.17% in the first half of 2009, compared to a 12.87% decline last year, while France's CAC 40 index slipped 2.41% in the first half of this year, compared to a 21.00% drop last year and Germany's DAX index declined 0.03% in the first half of 2009, compared to a 20.44% fall in the first half of 2008.
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