European shares extend losses, dragged down by energy stocks
* FTSEurofirst 300 index falls more than 1 percent
* Sandvik, Whitbread drop after downgrades
* AXA up after raising dividend payout target
By Atul Prakash
LONDON, Dec 4 (Reuters) - European shares dropped on Friday, extending losses from the previous session when the ECB's new stimulus measures disappointed some investors, as falling oil stocks adding pressure.
Oil stocks turned lower, falling 1.5 percent, as crude prices dropped. Sources said OPEC had agreed to roll over its policy of maintaining crude production to retain market share and also agreed to raise its output ceiling.
The pan-European FTSEurofirst 300 index fell more than 1 percent, a day after slumping 3.3 percent after the ECB's policy update fell short of high expectations. That was its biggest one-day fall since late August.
The ECB on Thursday cut its deposit rate deeper into negative territory and extended its bond-buying programme by six months. Many considered that the bare minimum after the bank had for weeks stoked expectations of more stimulus. Continuación...