December 1, 2016 / 8:32 AM / 2 years ago

European shares retreat from 3-week high; oil shares in demand

LONDON, Dec 1 (Reuters) - European shares fell on Thursday in a broad-based sell-off, halting a two-day rally and retreating from the previous session’s three-week highs, led lower by drops in TalkTalk and Elekta.

The STOXX 600 was down 0.3 percent by 0824 GMT, having climbed to its highest level since November 10 in the previous session.

Almost every sector was in negative territory. The exceptions were in the commodity space after oil producing countries came to a deal to limit oil output.

The STOXX Europe 600 Oil and Gas index was up 1.5 percent, while the basic resources index was up 2.1 percent, the only two sectors in positive territory.

Top faller was TalkTalk, down 8 percent, after a downgrade by JP Morgan to “underweight” from “neutral”. British regulators also said they would look into rising landline prices.

Sweden’s Elekta was down 4.1 percent after the medical equipment firm missed expectations with its results. (Reporting by Alistair Smout; Editing by Atul Prakash)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below