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Oil Keeps Falling and German Stocks Absorb DB Shock

Oil toiled at a more than one-year low after its worst month in a decade on Friday, while most major markets were keeping moves tight ahead of a weekend meeting between U.S. and Chinese presidents Donald Trump and Xi Jinping.

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Europe’s main share indexes in London, Frankfurt and Paris all sank [.EU], and Wall Street futures were pointing down too after the latest batch of disappointing Chinese data had made for another twitchy Asian session.

Frankfurt’s export-heavy DAX and Britain’s domestic-focused FTSE 250 were both staring at their fourth consecutive month of falls.

For the DAX it is the worst run since the back end of 2008 and was made worse again as Deutsche Bank shares fell to an all-time low as police searched its headquarters for a second day in a money laundering scandal linked to the Panama Papers.

via Reuters

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