Shares in Europe and Asia declined, led by commodity producers, on concern the deteriorating global economy will sap demand for metals and oil. U.S. futures fell.
BP Plc, Europe's second-largest oil company by market value, and Total SA sank at least 3 percent as crude headed for its second-biggest weekly drop in more than five years. Cnooc Ltd., China's largest offshore oil producer, slumped 4.9 percent. BHP Billiton Ltd., the world's biggest mining company, retreated 4.8 percent on lower metals prices. Palm Inc. plunged 9 percent in Europe after reporting a sixth straight loss. UBS AG led banks lower as Standard & Poor's cut ratings and changed outlooks for 12 U.S. and European financial institutions."
Sunday, 21 December 2008
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