European shares weaken as commodity stocks fall

miércoles 9 de diciembre de 2015 09:57 GYT
 

* FTSEurofirst 300 index down 0.5 pct, Euro STOXX 50 index down 0.4 pct

* Miner Anglo American extends gains on target cuts

* Fresnillo falls on burst pipeline

* Auto stocks climb (Recasts, adds detail, quote, updates prices)

By Kit Rees and Sudip Kar-Gupta

LONDON, Dec 9 (Reuters) - European shares fell on Wednesday to their lowest level in more than two months, weighed down by a drop at pharmaceuticals group Bayer and more pressure on commodity stocks.

The pan-European FTSEurofirst 300 index fell 0.5 percent to its lowest since late October, while the euro zone's blue-chip Euro STOXX 50 index also slipped by 0.4 percent.

Oil prices climbed back up on Wednesday as U.S. crude inventories dipped, while Japan posted rising machinery orders and copper prices also held their ground.

"Ultimately I do feel it's still a commodities story, and while oil might have bounced back, a lot of that could be construed as short-covering... and an element of fear that perhaps it's gone too far down too soon," Brenda Kelly, head analyst at London Capital Group, said.   Continuación...