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Total Stock Down Just 2% in Q2: What’s the Story?


Jun. 12 2019, Updated 4:09 p.m. ET

Total stock, oil, and equity markets

In the second quarter, Total (TOT) stock has fallen 2% due to lower oil prices. WTI has fallen 11%.

Total stock and peers, which fell in May, have started recovering this month. Chevron (CVX) and BP (BP) are down just 1.6% and 3.2%, respectively, this quarter, whereas Royal Dutch Shell (RDS.A) has recovered and is up 3%r. The recovery may have been driven by improving equity markets. The SPDR S&P 500 ETF (SPY) has risen 2% in the second quarter.

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Total stock’s performance in Q2

In April, Total stock closed flat. Oil rose in the first quarter, continuing the previous quarter’s uptrend, but Total’s dull first-quarter numbers, impacted its stock. In May, oil prices and equity markets were hit by intensifying US-China and US-Mexico trade tensions and the rising US oil supply, which affected global economic growth and oil demand estimates. Oil prices fell 16%, SPY fell 6%, and Total stock fell 7.5% in May.

However, in June, sentiments improved on expectations of interest rate cuts by the Fed. US-Mexico trade tensions moderated, further strengthening the market. This month, SPY has risen 5%, oil prices have fallen 1%, and Total stock has risen 6%.


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