Markets Right Now: Stock markets follow oil price lower

AP News
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Posted: May 11, 2016 5:45 AM
Markets Right Now: Stock markets follow oil price lower

LONDON (AP) — The Latest on global financial markets (all times local):

10:35 a.m.

European stocks are down in early trading as the price of oil turned lower, weighing on shares in the energy sector.

Britain's FTSE 100 was down 0.2 percent at 6,142 and Germany's DAX was 0.6 percent lower at 9,989. France's CAC 40 was 0.9 percent lower at 4,298.

The U.S. benchmark contract for oil was down 44 cents at $44.22 a barrel in electronic trading in New York as investors weighed the prospect of supplies remaining high and demand weak. Chinese data earlier this week showed a drop in the amount of crude the energy-hungry country imports.

Earlier, Asian markets were mixed on the close. Japan's Nikkei 225 edged up 0.1 percent and China's Shanghai Composite Index added 0.5 percent.