European shares end lower on Shire slump and commodities slide

lunes 11 de enero de 2016 13:37 GYT
 

(Updates with closing prices)

* FTSEurofirst 300 closes 0.4 pct down

* Shire falls sharply after Baxalta deal

* Commodities stocks track weaker oil and metals

By Sudip Kar-Gupta and Atul Prakash

LONDON, Jan 11 (Reuters) - European shares ended a choppy session in negative territory on Monday, with drugmaker Shire falling sharply after announcing it would buy Baxalta and commodity shares tracking oil and metals prices lower.

Shire fell 8.2 percent on nervousness over the price offered for Baxalta. The London-listed group, which first approached the U.S. firm with an all-stock offer in July, won over the maker of treatments for rare blood conditions, cancers and immune system disorders after adding a cash sweetener.

The pan-European FTSEurofirst 300 index ended 0.4 percent lower at 1,335.11 points after rising up to 1,353.71 earlier in the day. It slumped 7 percent last week.

The market also came under pressure after commodity stocks fell following a sharp drop in copper prices to a 6-1/2-year low and as crude oil traded near a 12-year trough on concerns about demand in China.   Continuación...