Commodity stocks hit European shares, C. Suisse limits losses

martes 10 de marzo de 2015 07:50 GYT
 

* FTSEurofirst 300 down 0.6 pct, hovers below 7-year lows

* Oil and mining stocks fall sharply, track commodity prices

* Credit Suisse surges after naming new CEO

By Atul Prakash

LONDON, March 10 (Reuters) - European shares slipped further away from a recent seven-year high on Tuesday as weaker oil and metals prices hit commodities stocks, but a rally in Credit Suisse limited market losses.

The FTSEurofirst 300 index of top European shares was down 0.6 percent at 1,557.49 points by 1131 GMT, trading below Friday's seven-year high of 1,579.93 points.

The Swiss lender surged 6.7 percent after saying it had hired Prudential head Tidjane Thiam as the first African to lead a global investment bank, with the job of reviving a company reeling from U.S. penalties and under increasing regulatory scrutiny.

"Credit Suisse has had different issues throughout the years and someone with a diverse background could look at its strategy with a fresh pair of eyes," said Sally Yim, vice president at Moody's Investors Service.

However, weaker energy and mining sectors dragged down the broader stock market. The STOXX Europe 600 Oil and Gas index fell 2.3 percent, the top sectoral decliner, while the European basic resources index fell 1.3 percent after a drop of 1.3 to 2.5 percent in crude oil and key metals prices.   Continuación...