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Sterling falls on weak GDP growth, Oil drags shares down.

News Date: 27/10/2015 10:43:35

 European shares fell on Tuesday, pulled down by mineral companies and bad British, U.S. data. British third quarter GDP growth grew less than expected, registering a 0.5% rise q\q, forecasts expected a 0.6% rise. Britain's FTSE 100 fell 21 points, or 0.33% to 6,396. Germany's DAX fell 52 points, or 0.49% to 10,748. France's CAC 40 fell 35 points, or 0.72% to 4,861.


Wall Street opened lower as U.S. core manufacturing orders for September fell 0.4% m\m, forecasts expected it to stay the same.  Dow Jones lost 27 points, or 0.47% to 17,575. S&P 500 fell 8 points, or 0.39% to 2,063. NASDAQ fell 17 points, or 0.35% to 5,017.


Sterling was sold out heavily after the GDP data, falling to a two-week low against Dollar to 1.5295. Against Euro it fell for the second day to 0.7213. It hit an eight-day low against Yen at 184.03.


Euro fell to a seven-week trough against Yen at 132.78. Yen was insurgent across the board, rising against Dollar to 120.31.


Crude oil broke through several support lines, with U.S. futures for December losing $1.37, or 3.12% to $42.61 a barrel. Brent futures lost $1.08, or 2.27% to $46.47 a barrel.


Spot gold lost 57 cents, or 0.05% to $1,166.43 an ounce. Silver was flat at $15.91 an ounce.


Commodity-linked currencies took a hit after the oil slump, with Canadian dollar falling to a three-week and a half low at C$1.3245 per dollar. Australian dollar fell to $0.7221.  

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