October 11, 2016 / 7:17 AM / a year ago

European stocks slip as shares of oil majors retreat

LONDON, Oct 11 (Reuters) - European stock markets fell on Tuesday, with a pullback in the shares of major oil companies weighing on markets.

The pan-European STOXX 600 index was down by 0.3 percent, with the index down by around 7 percent so far in 2016.

The STOXX Europe 600 Oil & Gas index fell 0.4 percent as oil prices retreated from one-year highs.

However, the shares of European luxury goods stocks outperformed, after LVMH reported a forecast-beating acceleration in third-quarter sales.

LVMH shares rose 4.4 percent, with rival luxury good stocks such as Christian Dior, Richemont and Burberry also gaining ground. (Reporting by Sudip Kar-Gupta; Editing by Andrew Heavens)

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