European shares sink as oil slump fuels deflation fears

lunes 15 de diciembre de 2014 13:52 GYT

* FTSEurofirst 300 ends down 2.4 pct, loses 8.2 pct in 6 days

* Relentless fall in oil fuels fears of deflation in euro zone

* About $710 bln wiped off STOXX 600 in six sessions

* France's CGG stock tumbles 29 pct as Technip walks away

By Blaise Robinson

PARIS, Dec 15 (Reuters) - European shares tumbled on Monday, resuming last week's sharp sell-off as the relentless drop in oil prices hurt energy shares and fuelled fears of deflation in the euro zone.

The FTSEurofirst 300 index of top European shares ended down 2.4 percent at 1,290.65 points, a level not seen in nearly two months, led lower by energy shares as Brent crude oil hit a fresh five-year low close to $60 a barrel.

Italy's ENI fell 3.5 percent, Spain's Repsol dropped 3 percent and Britain's BP shed 3.2 percent.

The broad STOXX 600 fell 2.2 percent. It has dropped 7.9 percent in the past six sessions, representing a wipeout in market capitalisation of roughly $710 billion, nearly the size of Saudi Arabia's annual GDP.   Continuación...