European shares fall after oil rout unnerves market

lunes 14 de diciembre de 2015 11:22 GYT
 

* FTSEurofirst down 0.5 pct

* Brent sinks towards crisis lows

* Resources and auto stocks also fall (Adds detail)

By Alistair Smout and Danilo Masoni

LONDON/MILAN, Dec 14 (Reuters) - European shares turned lower on Monday, falling away after a strong start to touch a 2-1/2 month low as commodity firms suffered from a sell-off in Brent crude.

Energy shares fell 1.8 percent 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 2 to 4.5 percent.

Basic resources stocks fell 2.4 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.

China's activity data was stronger than expected in November, with factory output growth picking up to a five-month high, signalling that a flurry of stimulus measures from Beijing may have put a floor under a fragile economy.   Continuación...