European shares retreat as mining stocks and Casino decline

lunes 21 de marzo de 2016 04:57 GYT

(ADVISORY- Reuters plans to replace intra-day European and UK stock market reports with a Live Markets blog on Eikon - see cpurl://apps.cp./cms/?pageId=livemarkets for site in development. See the bottom of the report for more details)

* Mining stocks fall on back of weaker metals prices

* JP Morgan cuts euro zone equities to "neutral"

* Bayer up on possible Monsanto interest for Bayer unit

LONDON, March 21 (Reuters) - European shares fell on Monday, as a decline in the share prices of major mining stocks and in French supermarket operator Casino weighed on the region's stock markets.

The pan-European FTSEurofirst 300 index and the euro zone's blue-chip Euro STOXX 50 index were both down by 0.2 percent.

Mining and steel stocks such as ArcelorMittal and Glencore fell as metals prices weakened and shares in Casino also declined after Standard & Poor's cut its rating on the company.

A fall in oil prices also weighed on the shares of energy companies, while Tullow Oil was further impacted by a downgrade from investment bank Jefferies.

However, Bayer's shares rose 2 percent after people familiar with the matter told Reuters that Monsanto , the world's largest seed producer, had approached Bayer to express interest in its crop science unit, including a potential acquisition worth more than $30 billion.   Continuación...