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Oil Producer Eni Posts Unexpected Quarterly Loss

Shares in Italy's Eni (E) fell on Friday after the group became the latest European oil producer to miss quarterly earnings expectations.

The shares were off by as much as 3% in early trading, touching lows of €13.20, before paring losses. The stock is up by 2.4% in the year to date although it has under-performed many other oil group due to market concerns over whether or not it can restructure in order to cope with lower oil prices over the longer term.

Its earnings...