European Indexes End Lower

An 8% slump in the Shanghai market weighed on sentiment

London: The FTSE 100 closed below breakeven Monday as US indexes continued to trade in the red as profit-taking kicks in. Also, an 8% slump in Shanghai weighed. The market was cautious ahead of rate decisions from the BoE and ECB this week. Crude was rose to US$65.95/bbl over an Indian Ocean cyclone and tensions in Nigeria. In the sector, BP (+0.62%) reportedly may spend as much as US$25bn developing oil and gasfields in Libya. In the commodity markets, gold closed higher on a weak US$. Copper gained on falling stock in London and fears of a strike in Mexico. Xstrata (-0.24%) opted not to match Norlisk Nickel's US$6.4bn offer for LionOre.

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