European Stocks Hit Hard Last Week

February 26th, 2011
in econ_news

Econintersect:  Every bourse in Europe except Norway was down last week.  And all except Oslo, Stockholm and London were down by 2-3%.  Frankfurt had the largest loss, down by 3.3%.

Follow up:

The reason for the market performances:  surging oil prices.  Norway and the UK produce 90% of the oil production within western Europe and Norway exports a significant portion of their production. 

oil production europe

The data for the European markets for the week and year to date:

European stocks ytd 2-25-2011

Sources:  Yahoo Finance and U.S. Dept of Energy

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