European shares climb but Electrolux slumps as GE deal fails

lunes 7 de diciembre de 2015 09:12 GYT

* FTSEurofirst up 1.5 pct

* Electrolux slumps as GE deal falls through

* Oil stocks down on OPEC inaction

* Property stocks Vonovia, Deutsche Wohnen rally on takeover (Adds quote and detail, updates prices)

By Kit Rees

LONDON, Dec 7 (Reuters) - European shares rose on Monday from the three-week lows hit last week, although Electrolux slumped after its deal to buy General Electric's appliance business fell through.

GE terminated the $3.3 billion agreement, which the U.S. Department of Justice had asked a federal court to stop in July on concern it would push up prices for consumers. Electrolux shares fell 11.5 percent.

Oil stocks retreated, with Repsol, Royal Dutch Shell, BP and Statoil down between 1.7 and 2.8 percent, after the oil price fell towards a 2015 low following OPEC's meeting which ended without agreeing to lower production.

"One of the things on my mind at the moment is oil, and the lack of results from OPEC on Friday. Oil prices may be lower for longer, and that's ... going to be challenging for the energy area of the market," Adam Laird, head of passive investments at Hargreaves Lansdown, said.   Continuación...