Oil weighs on European shares

File picture: Dado Ruvic

File picture: Dado Ruvic

Published Apr 18, 2016

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Milan - European shares fell in early trading on Monday, with oil stocks leading the market lower as crude prices tumbled after a meeting by major exporters in Doha collapsed without a deal to freeze output.

The STOXX Europe Oil and Gas index fell 3.4 percent, making it the top sectoral loser with shares in Royal Dutch Shell, Total and Eni all down by more than 3 percent.

Read: Asian shares skid

The pan-European FTSEurofirst 300 index fell 1.2 percent by 07h10 GMT.

But Reckitt Benckiser rose around 1 percent, topping gainers on the FTSEurofirst, after it reported slightly better than expected quarterly sales and affirmed its full-year forecast.

REUTERS

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