(Stock Trading News) European stocks pare losses as oil retreats – Reuters
PARIS, July 15 (Reuters) – European stocks pared losses in late trading on Tuesday but remained deep in the red as oil prices dropped 5 percent. At 1518 GMT, the FTSEurofirst 300 index of top European shares was down 1. Federal Reserve Chairman Ben Bernanke said that a weakening housing market, tighter credit and rising oil prices threatened the economy. Banking stocks were the biggest laggards, hit by fresh worries over the health of the financial services sector, with Royal Bank of Scotland (RBS. NYSE and AMEX quotes delayed by at least 20 minutes. read more
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