Miners drag European stocks lower

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Published Apr 18, 2017

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London - European stocks fell in a broad decline as

geopolitical concerns weighed on traders as they returned to markets after the

Easter holiday.

The Stoxx Europe 600 Index slipped 0.9 percent at 11:36 a.m.

in London. All 19 industry groups fell, with miners leading declines as

iron-ore prices tumbled.

The exporter-heavy FTSE 100 Index tumbled 1.3 percent,

weighed down by resource shares and a recovery in the pound after UK Prime

Minister Theresa May called a general election in June.

Britain’s snap election adds to political risks in Europe.

Uncertainty about the outcome of the French presidential vote, as well as

concerns about Syria and North Korea have weighed on equities in recent

sessions.

Read also:  European stocks buoyed by Yellen's remarks

ArcelorMittal, Anglo American Plc and Rio Tinto Group led

losses among miners on Tuesday after Citigroup Inc. said it’s bearish on the

outlook for iron ore, spurring further declines in contracts on the raw

material. Energy producers, construction companies and banks were also among

the worst performers in the Stoxx 600.

Pandora A/S slumped 8.3 percent after Carnegie downgraded

the stock to hold, saying a quarterly dealer survey indicated a visible

deterioration in momentum. The earnings season will pick up pace later this

week, with reports due from companies including Unilever and ABB Ltd.

BLOOMBERG

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