European Futures Fall
Monday, June 9th, 2008Declines in stock-index futures in the US and Asia triggered losses in Europe. Crude oil prices are also affecting futures, with new records being broken frequently. There are serious concerns that economic growth and corporate profits will fall futher this year. Air France-KLM and Daimler will be among the affected parties, with the record oil price having a noticeable effect on their financial performance.
European stock-index futures dropped, following declines in the U.S. and Asia, as crude oil traded near a record, deepening concern that economic and profit growth will slow.
Air France-KLM Group, Europe’s largest airline, and Daimler AG, the world’s second-largest luxury carmaker, may fall after oil climbed above $139 a barrel last week. Volvo AB and MAN AG will probably retreat as UBS AG recommended selling shares in the truckmakers. Royal Bank of Scotland Group Plc may move after shareholders agreed to buy 95.1 percent of the stock for sale in its 12 billion-pound ($23.6 billion) rights offer.