European shares inch lower as oil price rally fizzles out

lunes 25 de enero de 2016 07:27 GYT
 

* FTSEurofirst falls back after Friday's rally

* Rebound in oil price also fizzles out

* Greek shares outperform after S&P upgrade (Updates prices)

By Sudip Kar-Gupta

LONDON, Jan 25 (Reuters) - European stock markets fell slightly on Monday, with shares in major oil and gas companies losing ground as an oil price rally fizzled out.

The pan-European FTSEurofirst 300 index, which rose 3 percent on Friday to mark its first weekly gain for 2016, slipped 0.2 percent by 1056 GMT. The FTSEurofirst is down 7.5 percent since the start of 2016.

The euro zone's blue-chip Euro STOXX 50 index and Germany's DAX were both little changed, with the DAX more than 20 percent below a record high reached last April.

Oil prices slid after having rallied 10 percent on Friday. This in turn pushed down the shares of companies such as BP , Royal Dutch Shell and Total.

World stock markets have fallen since the start of 2016, partly due to signs of a slowdown in China, the world's second-biggest economy and a major consumer of oil and metals.   Continuación...