European shares weighed by weak commodity stocks, luxury stocks rise

martes 11 de octubre de 2016 12:48 GYT

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* STOXX 600 index down 0.5 percent, down 7 pct in 2016

* Miners, oils top sectoral losers as commodity prices fall

* LVMH rises after strong sales, buoys peers

* Old Mutual top STOXX loser as South African assets hit

By Danilo Masoni and Sudip Kar-Gupta

MILAN/LONDON, Oct 11 (Reuters) - European shares closed slightly lower on Tuesday, weighed down by weaker commodity stocks, while shares of major luxury goods companies rose after strong figures from LVMH.

The pan-European STOXX 600 index fell 0.5 percent and is down by around 7 percent since the start of 2016. Britain's FTSE also fell after hitting a fresh all-time high, but the mid-cap index FTSE 250 outperformed as sterling came under renewed pressure.

Berkeley Futures' associate director Richard Griffiths said he still had concerns about the generally weak economic backdrop facing Europe, with Britain's decision to quit the European Union adding another layer of uncertainty.   Continuación...