European shares extend sell-off, Airbus plunges

miércoles 10 de diciembre de 2014 13:51 GYT
 

* FTSEurofirst 300 down 0.4 pct, adding to sharp 2-day drop

* $280 bln in market value of oil shares wiped off since June

* Greek stocks extend sell-off on political uncertainty

By Blaise Robinson

PARIS, Dec 10 (Reuters) - European stocks fell for a third session in a row on Wednesday as a further plunge in crude prices knocked down the shares of oil majors and oil services groups such as Royal Dutch Shell and Fugro.

Airbus shares also featured among the top losers after the aircraft manufacturing group's new profit outlook disappointed investors and the firm said the first delivery of the new A350 had been postponed and no new date had been set.

The stock tumbled 10.4 percent - its biggest one-day drop in more than six years - representing a wipeout in the company's market value of 3.9 billion euros ($4.8 billion), roughly the price of a dozen Airbus A380 jumbo jets.

Shares in Shell dropped 2.4 percent and Fugro tumbled 11 percent as Brent crude oil fell below $65 a barrel on mounting signs of oversupply and lacklustre demand as global economic growth falters.

In its monthly report, the Organization of the Petroleum Exporting Countries (OPEC) forecast demand for the group's oil will drop to 28.92 million barrels per day (bpd) in 2015, down 280,000 bpd from its previous expectation.   Continuación...