Europe's Gabon-exposed stocks slide after military coup

📆 2023/08/31 3:37:00
📰 YahooFinanceCA

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Shares in European oil producers, miners and other companies with large exposures to Gabon plummeted on Wednesday after a military coup raised concerns over their operations in the resource-rich African country. London-listed oil producer Tullow Oil fell as much as 12% in afternoon trading, while French energy companies TotalEnergies Gabon and Maurel et Prom and miner Eramet all dropped by more than 20% at one point. 'Shares are reacting to concerns over the backdrop in Gabon,' said Investec equity analyst Alex Smith in London.

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TOKYO — Asian shares rose Wednesday, boosted by a Wall Street rally that came on positive reports on consumer confidence and job openings. Japan's benchmark Nikkei 225 added 0.9% in morning trading to 32,529.72. South Korea's Kospi rose 0.6% to 2,567.44. Hong Kong's Hang Seng gained 0.4% to 18,563.39, while the Shanghai Composite inched up less than 0.1% to 3,137.72. Australia's S&P/ASX 200 jumped 1.4% to 7,310.

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