European shares hit 1-week low as commodities stocks slump

miércoles 24 de febrero de 2016 07:47 GYT

* FTSEurofirst 300 index falls around 2 percent

* Commodities stocks among the top fallers

* Wolters Kluwer gains after results

By Atul Prakash

LONDON, Feb 24 (Reuters) - European equities fell for a second straight session to a one-week low on Wednesday, with commodities-related shares coming under further selling pressure as prices of copper and crude oil slipped.

The pan-European FTSEurofirst 300 index was down 2.2 percent at its lowest level in around a week, extending losses from a 1.3 percent slide in the previous session.

Commodities-focused stocks bore the brunt of the sell-off, with the STOXX Europe 600 Basic Resources index dropping 4.9 percent after copper prices fell on persistent concerns about slowing demand in top consumer China.

The European oil and gas index also slipped 2.8 percent, tracking a decline in oil prices that were hit after top exporter Saudi Arabia ruled out production cuts and industry data showed a further build in U.S. crude stockpiles.

Shares in miners such as Anglo American, Glencore , BHP Billiton, and oil majors BP and Royal Dutch Shell all fell sharply.   Continuación...