European shares turn lower, energy and export firms fall

lunes 14 de diciembre de 2015 09:02 GYT
 

* FTSEurofirst down 0.7 pct

* Brent sinks 3 percent

* Resources and auto stocks also fall (Recasts, adds quote, detail)

By Alistair Smout and Danilo Masoni

LONDON/MILAN, Dec 14 (Reuters) - European shares turned lower on Monday, falling away after a strong start as oil firms suffered from a sell-off in Brent crude, while exporters and miners also came under pressure.

Energy shares fell 1.9 percent to a 2-1/2 month low as oil prices hit crisis-era lows on concerns that a glut in supply would deepen in the months to come.

Brent crude oil sank to below $37 a barrel for the first time since December 2008, hitting the shares of the likes of Seadrill, Tullow Oil and OMV, which were all down 4 to 6 percent.

The drop in the oil price also pushed Britain's FTSE 100 into negative territory, as shares in BP and Royal Dutch Shell declined.

Basic resources stocks fell 1 percent, giving up early gains. While Chinese data had pointed to signs of stabilisation in the world's biggest metals consumer, sinking oil and a rising dollar saw copper fall.   Continuación...