European shares drop as oil price resumes slide, banks down

lunes 25 de enero de 2016 11:47 GYT
 

* FTSEurofirst falls back after Friday's rally

* Rebound in oil price also fizzles out

* Greek shares outperform after S&P upgrade

* Spanish, Italian lenders weigh on banks (Adds details, updates prices)

By Sudip Kar-Gupta and Danilo Masoni

LONDON/MILAN, Jan 25 (Reuters) - European shares fell on Monday, with oil and gas companies losing ground as an oil price rally fizzled out and steep falls in Spanish and Italian lenders hitting banking stocks.

The pan-European FTSEurofirst 300 index < .FTEU3>, which rose 3 percent on Friday to mark its first weekly gain for 2016, slipped 0.7 percent by 1523 GMT. The FTSEurofirst is down around 8 percent since the start of 2016.

The euro zone's blue-chip Euro STOXX 50 index < .STOXX50E> and Germany's DAX were down 0.7 and 0.4 percent respectively, 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 , Total and Eni.   Continuación...