January 9, 2017 / 8:30 AM / a year ago

European shares slip, Britain's FTSE 100 at a record

LONDON, Jan 9 (Reuters) - European shares edged lower on Monday in early deals, though a rise among basic resources stocks helped Britain’s FTSE 100 index hit a fresh record high.

The pan-European STOXX 600 index was down 0.1 percent. The FTSE 100 outperformed its continental peers, gaining 0.3 percent to hit a fresh all-time high of 7,239.26 points. The British blue chip index was on track to mark its tenth session of straight gains, having closed at a record level last Friday.

While basic resources was the top-gaining sector rallied 0.3 percent, a 4.3 percent fall in Deutsche Lufthansa’s shares weighed on travel & leisure stocks.

British mid cap betting firm William also fell, 2.8 percent, after reporting profit at the bottom of its guidance range.

Germany’s Fresenius Medical was another top faller, down 3.4 percent after it and U.S. rival DaVita Inc received subpoenas from federal prosecutors investigating their ties with a charity that helps patients pay for kidney dialysis.

A downgrade to “hold” from “buy” from Deutsche Bank weighed on Babcock International’s shares, sending the engineering firm 3.5 percent lower. (Reporting by Kit Rees, Editing by Vikram Subhedar)

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