World stock markets mostly fell Monday on the back of another dizzying plunge in oil prices and stubborn fears over China and the global economy. Equities extended losses in most of Asia and Europe, with energy firms taking a hit from a fresh collapse in the cost of crude oil. The Milan stock exchange also dived on swirling speculation over the health of several Italian banks.
Global oil prices slumped beneath $28 per barrel on Monday after the lifting of sanctions against key producer Iran under its nuclear deal with world powers. Investors also remain on edge over China’s economic slowdown — and its impact on the faltering world economy. “European markets are doing their best to shrug off yet another negative session in Asia, as investors attempt to gauge whether or not the market has reached a good buying point,” said Rebecca O’Keeffe, head of investment at stockbroker Interactive Investor. FULL REPORT