European shares fall, roiled by BHP Billiton and oil
* FTSEurofirst 300 down 1.2 pct
* BHP Billiton takes $7.2 bln charge on U.S. assets
* Oil and gas sector under pressure as crude drops below $30
* H&M boosted by strong December sales
By Alistair Smout
LONDON, Jan 15 (Reuters) - European shares fell on Friday, knocked by losses in commodity-related stocks as BHP Billiton suffered from a writedown and oil fell below $30 a barrel.
BHP Billiton shed 6 percent, the top faller on the pan-European FTSEurofirst 300, after it said it would write down the value of its U.S. shale assets by $7.2 billion, cementing expectations that it will be forced to cut its dividend for the first time in more than 25 years.
The STOXX Europe 600 Basic Resources index was down 4.4 percent, with Rio Tinto, Glencore and Antofagasta also among top fallers.
All four stocks also suffered from target price cuts by Japanese bank Nomura. Copper has hit a new 6-1/2 year low this week and was set for its second straight weekly loss. Continuación...