European shares open lower as commodity slump bites

Reuters Updated - January 22, 2018 at 05:37 PM.

European shares opened lower on Monday, dragged down by a steep fall in commodities and energy stocks on demand fears.

The pan-European FTSEurofirst 300 was down 0.8 per cent, after ending at three-month highs on Friday, while the Euro STOXX 50 index was 0.7 per cent lower.

Belgian shares fell 0.5 per cent, broadly in line with the overall market, as investors shrugged off concerns of a Paris-style mass attack.

Mining stocks were the top sectoral faller with a drop of more than 2 per cent as metal prices fell to multi-year lows on worries about China demand. Energy plays was also lower, weiged down by a drop in crude prices.

But German ATM machine maker Wincor Nixdorf AG rose more than 4 per cent after US rival Diebold Inc launched a $1.8 billion cash and share offer.

Published on November 23, 2015 09:53