European stocks fall on growth concerns, energy shares slump

martes 4 de noviembre de 2014 11:45 GYT

* FTSEurofirst 300 index falls 0.6 percent

* Index slips after European Commission forecasts

* Energy companies fall sharply on weaker oil prices

By Atul Prakash

LONDON, Nov 4 (Reuters) - European shares fell on Tuesday as the European Commission's move to cut its growth forecast for the euro zone prompted investors to trim their equity exposure and a sharp drop in oil prices tripped up energy shares.

The STOXX Europe 600 Oil and Gas index fell 3.3 percent, the biggest sectoral decliner, tracking a drop in crude oil to a more than four-year low after Saudi Arabia cut sales prices to the United States.

Energy companies Royal Dutch Shell, Total , Tullow Oil, Statoil, BG Group and Seadrill fell 1.7 to 8.6 percent.

After hitting an intra-day high of 1,346.49, the pan-European FTSEurofirst 300 index was down 0.6 percent at 1,332.31 points by 1529 GMT, after the Commission said the euro zone will need another year to achieve even modest growth.

"Expectations for growth in the euro zone are pretty low anyway," HSBC's director of equity strategy Robert Parkes said.   Continuación...