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European shares fell on Monday with financials, led by asset manager Man Group and Italian banks, and oil-related stocks the worst performers.
The STOXX Europe 600 index was down 0.8 per cent in early trade. The oil & gas index and the regional banks’ index were both down 1.4 per cent.
Oil prices added to Friday’s steep losses on fresh doubts over the ability of major producers to agree output cuts.
Italy’s banking fell 3 per cent to hit their lowest in eight weeks.
Britain’s Aberdeen Asset Management rose 2.3 per cent with traders citing better-than-expected results. The firm’s funds continue to suffer outflows.
Sticking with financial services, Man Group fell as much as 5 per cent after the stock was downgraded by Exane BNPParibas. The stock was the worst performers on the STOXX 600.
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