Why did Repsol fall on 6 October?
Written after the close on
Repsol −1.44%
Repsol fell slightly as oil slipped. Over the last five trading days Repsol fell clearly, moving against both a rising market and a rising energy sector but in line with a clearly weaker Brent crude oil price. The likely driver was oil: a softer crude price weighs on an integrated oil and gas producer's earnings outlook, and the sector's gain was not enough to offset it. News that Repsol and Italy's Eni are weighing a partial sale of their stakes in Venezuela's Perla natural gas field may also have kept sentiment cautious, though such a portfolio move is not clearly negative. Watch the late-October earnings report next.
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