European shares steady as weak commodity stocks offset Telecom, Bayer gains

lunes 21 de marzo de 2016 07:14 GYT
 

* Mining stocks fall on back of weaker metals prices

* Telecom Italia leading gainer as CEO stepping down

* Bayer up on possible Monsanto interest for Bayer unit

* JP Morgan cuts euro zone equities to "neutral" (ADVISORY- Reuters plans to replace intra-day European and UK stock market reports with a Live Markets blog on Eikon - see Open for site in development. See the bottom of the report for more details. Adds details, updates prices)

By Sudip Kar-Gupta and Danilo Masoni

LONDON/MILAN, March 21 (Reuters) - European shares steadied on Monday with weaker commodity stocks offsetting gains in Bayer and Telecom Italia.

The pan-European FTSEurofirst 300 index was down 0.1 percent by 1104 GMT, while the euro zone's blue-chip Euro STOXX 50 index was up 0.1 percent.

Telecom Italia rose 3.6 percent, topping gainers on the FTSEurofirst, after the company confirmed its CEO was stepping down in a move seen as a sign of the growing influence of top shareholder Vivendi.

Italian broker ICBPI said the resignation could fuel speculation about new cost-cutting at the Italian phone group.   Continuación...