Weaker energy stocks drag European equities lower, ARM up

miércoles 20 de abril de 2016 04:37 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)

* FTSEurofirst 300 index falls 0.4 percent

* Weaker oil prices put pressure on energy stocks

* ARM Holdings gains after results

By Atul Prakash

LONDON, April 20 (Reuters) - European equities retreated from three-month highs on Wednesday, with weaker energy stocks outpacing a rally in companies such ARM Holdings after their results.

The pan-European FTSEurofirst 300 index was down 0.4 percent in morning trading after closing 1.5 percent higher in the previous session when the index climbed to a three-month high on some encouraging trading updates and firmer commodities.

However, crude oil prices fell back again on Wednesday after Kuwaiti oil workers ended a three-day strike that had cut the nation's crude output by around half, with worries about an oversupplied market also returning to the fore.

The European oil and gas index fell 0.7 percent, the top sectoral decliner, with shares in Royal Dutch Shell , BP and Tullow Oil falling 0.8 to 2.7 percent.   Continuación...