Stock indices closed lower as oil prices declined. Oil prices fell on concerns over the global oil oversupply. Iranian Oil Minister Bijan Zanganeh said on Sunday that the country was not ready to freeze its oil output until output of 4.0 million barrels a day was reached.
Market participants are awaiting the release of the Fed’s interest rate decision tomorrow. Analysts expect the Fed to keep its monetary policy unchanged.
Market participants also eyed the Eurozone’s economic data. Eurostat released its employment growth data for the Eurozone on Tuesday. Eurozone’s employment increased by 0.3% in the fourth quarter, exceeding expectations for a 0.2% gain, after a 0.3% rise in the third quarter.
Main contributors were Malta (+1.7%), Spain, Luxembourg and Portugal (all +0.7%).
On a yearly basis, employment in the Eurozone increased by 1.2% in the fourth quarter, after a 1.1% gain in the third quarter.
Indexes on the close:
Name Price Change Change %
FTSE 100 6,139.97 -34.60 -0.56 %
DAX 9,933.85 -56.41 -0.56 %
CAC 40 4,472.63 -33.96 -0.75 %
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