Geopolitical woes dent European shares; Alstom falls after bid

lunes 16 de junio de 2014 12:44 GYT
 

* FTSEurofirst 300 down 0.4 pct, Euro STOXX 50 down 0.7 pct

* Violence from Iraq to Kenya fuels profit taking

* Alstom extends losses after Siemens-MHI bid

* Actelion jumps 15 pct on positive results for Selexipag

By Francesco Canepa

LONDON, June 16 (Reuters) - European stocks edged lower on Monday, adding to last week's retreat, as mounting violence from Iraq to Kenya weighed on travel shares and prompted investors to cash in on recent outperformers.

Airline easyJet and cruise operators Carnival both fell more than 1 percent as Brent crude rose to nearly $113 per barrel on concerns over disruptions to oil exports from Iraq, the second-largest OPEC producer.

Sunni Islamist insurgents have routed Baghdad's army and seized the north of the country, threatening to dismember the state and unleash all-out sectarian warfare across a crescent of the Middle East.

While airlines tend to lock in prices for their immediate fuel needs using financial derivatives known as hedges, higher oil prices in the coming months would affect future profits.   Continuación...