From the Floor: Tesla shares slump, auto industry the new battleground
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- Tesla shares fell 7% on sell-side reports, down 16% from last week's peak
- Auto industry 'the new battleground' as Volvo signals death of combustion engine
- Markets brace for G20 summit where Trump seen increasingly isolated: Hardy
- Near-term focus for EURUSD is 1.1300 area: Hardy
- Shares in electric car-maker Tesla plunged 7% on sell-side reports on Wednesday, and the stock is now down 16% from its peak last week as the automobile industry has become the 'new battleground' as Volvo announced the death of the combustion engine with its plans to go all-electric. Markets are bracing for a July 7-8 Group of 20 summit where US President Donald Trump looks likely to be increasingly isolated.
- Bullish API report stabilised oil after biggest drop in four weeks
- Oil markets looking ahead to weekly EIA report at 1500 on Thursday
- Gold holding above support on multiple geopolitical risks
- Key support for gold at $1,215/oz, with resistance seen at $1,234 and $1,239 /oz