European shares hit 1-week low as commodities stocks slump

miércoles 24 de febrero de 2016 13:45 GYT

* FTSEurofirst 300 index falls 2.3 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 further selling pressure on commodities-related shares as prices of copper and crude oil slipped.

The pan-European FTSEurofirst 300 index ended down 2.3 percent at its lowest level in around a week, extending losses from a 1.3 percent slide in the previous session.

The index has fallen 12 percent so far in 2016, as concerns about a slowdown in China - the world's second-biggest economy and a major commodities consumer - have hit world markets.

Commodities-focused stocks bore the brunt of the sell-off, with the STOXX Europe 600 Basic Resources index dropping 6.5 percent after copper prices fell on persistent concerns about the state of the Chinese economy.

The European oil and gas index also slipped 2.8 percent, tracking a decline in oil prices after top exporter Saudi Arabia ruled out production cuts.   Continuación...