Oil Stocks Shell-Shocked After Royal Dutch Profit Warning, But Wider Market Buoyant

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Oil Stocks Shell-Shocked After Royal Dutch Profit Warning, But Wider Market Buoyant

by TheStreet.com Videos 2:22 mins

Oil Stocks Shell-Shocked After Royal Dutch Profit Warning, But Wider Market Buoyant

by TheStreet.com Videos 2:22 mins

European markets were generally slightly higher in early morning trading. Even London was up slightly, despite weakness in oil and bank stocks. Oil took a beating after Anglo Dutch oil major Royal Dutch Shell gave a profit warning. British banks were down, as the opposition Labour party warned of caps on their market share and enforced sales of branches and accounts if it wins next year¿s general election. Private equity firms KKR & Geneva sold their remaining stake in German broadcaster ProSieben. Sat1 Media for $1.77 billion. China sees its first IPO since October 2012.

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