European stocks lost ground Thursday, with the oil and gas sector lower as crude prices languished in a bear market. The Stoxx Europe 600 fell 0.3% to 387.40, on track for a third straight session of declines. Oil prices were back in focus, extending losses from Wednesday, when they dropped to their lowest in 10 months. European oil and gas stocks overall gave up 1.2% on Thursday. On major benchmarks, the U.K.’s FTSE 100 moved lower by 0.4% to 7,417.03. France’s CAC 40 was off 0.4% at 5,253.47, and Germany’s DAX 30 shed 0.3% at 12,733.72. Biggest decliner on the Stoxx 600 was oil producer Tullow Oil PLC as shares fell 2.8%, while Swedish engineering firm Alfa Laval AB topped the index by rising 3.2%. Late Thursday, U.K. Prime Minister Theresa May is expected in Brussels to present Britain’s plans for European Union citizens living in the U.K. as part of Brexit negotiations.
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From:: Stock Market News