European shares surrender to late selloff as oil slides

martes 6 de enero de 2015 13:33 GYT
 

(Updates at settle)

* FTSEurofirst 300 down 0.7 pct as crude hits new lows

* Auto stocks rally as cheaper fuel boosts U.S. car sales

* Greek political outlook a concern

By Francesco Canepa and Sudip Kar-Gupta

LONDON, Jan 6 (Reuters) - European shares surrendered to a late selloff on Tuesday to end a choppy session lower as a renewed slide in crude prices and worries about Greece's Jan. 25 election unnerved investors.

Stocks yielded their gains as Brent crude fell to fresh 5-1/2 year lows just above $51 a barrel on growing worries over a global supply glut after top exporter Saudi Arabia gave no sign that it would cut output.

Oil majors such as Total, which had helped support the market, turned lower before the closing bell and explorers such as Ophir fell as much as 3.6 percent.

"It never looked like a complete turnaround, just a little bit of profit-taking (on negative bets) and off we go again," said Brenda Kelly, a strategist at IG.   Continuación...