Oil shares weigh on European shares as Doha deal fails

lunes 18 de abril de 2016 10:46 GYT

* FTSEurofirst 300 steady

* TUI leads travel stocks higher after upgrade

* Reckitt rises after earnings update

* Caixabank falls after launching bid for Banco BPI (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)

By Alistair Smout and Danilo Masoni

LONDON/MILAN, April 18 (Reuters) - European shares steadied on Monday after a weak open, with oil stocks weighing on the market 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 slipped 0.8 percent, making it the top sectoral loser. Shares in Royal Dutch Shell, Total and Eni were all down nearly 2 percent.

A deal to freeze oil output by OPEC and non-OPEC producers fell apart on Sunday after Saudi Arabia demanded that Iran join in despite calls on Riyadh to save the agreement and help prop up crude prices.

The pan-European FTSEurofirst 300 index touched its lowest intraday level since Wednesday, before turning higher to trade flat at 1,350.95, following U.S. shares up in afternoon trade.   Continuación...