European shares retreat as commodity stocks, virus concerns weigh

Oil majors BP, Royal Dutch Shell and Total fell as oil prices retreated on renewed fears around global fuel demand amid rising cases. Mining stocks shed 0.4% as a stronger dollar weighed on commodity prices.

Reuters | Updated: 11-01-2021 14:05 IST | Created: 11-01-2021 13:52 IST
European shares retreat as commodity stocks, virus concerns weigh
Representative image Image Credit: Flickr

European stocks slipped from over 10-month highs on Monday as investors booked profits after a strong week, while surging coronavirus cases across the continent and mainland China dragged down energy and mining stocks.

The pan-European STOXX 600 index fell 0.1% by 0810 GMT, with Germany's DAX index shedding 0.4% and France's CAC 40 down 0.2%. Stock exchange operator Euronext said it had resolved a technical issue that affected trading on futures contracts tied to the CAC 40.

Germany reported an increase in coronavirus cases even as most of Europe was under the strictest restrictions, while China saw its biggest daily increase in infections in more than five months. Oil majors BP, Royal Dutch Shell and Total fell as oil prices retreated on renewed fears around global fuel demand amid rising cases.

Mining stocks shed 0.4% as a stronger dollar weighed on commodity prices. London's blue-chip index was almost flat, with shares in Britain's biggest sportswear retailer JD Sports jumping 5​% after it forecast fiscal 2021 profit to be "significantly ahead" of current market expectations.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


TRENDING

OPINION / BLOG / INTERVIEW

Addressing conflict-related sexual violence at long last

... ...

Why unequal access to coronavirus vaccines is a threat to us all

... ...

India’s love affair with fossil fuels: the path to sustainable development?

... ...

Videos

Latest News

Have not received No-confidence motion notice: Haryana Assembly Speaker

After Congress said it will move a no-confidence motion against Bharatiya Janata Party BJP and Jannayak Janta Party JJP government in Haryana, Assembly Speaker Gian Chand Gupta on Friday said that he has not received any motion. Speaking on...

Knowledge Marine & Engineering Works Limited's IPO to open on Tuesday, March 09, 2021 with fixed Price Band of Rs. 37 per Equity Share each of Face Value of Rs. 10 each

Initial Public Offering of up to 27,36,000 Equity Shares The Price band of Rs. 37 per equity share Minimum Bid lot is 3000 equity shares and in multiples of 3000 equity shares thereafter Issue opening date - Tuesday, March 09, 2021 and ...

Rs 350 cr in state budget for development of Gairsain capital region: U'khand CM

Chief Minister Trivendra Singh Rawat on Friday said the 2021-22 Uttarakhand budget takes care of people from every section of society and has a provision of over Rs 350 crore for the development of the Gairsain capital region.Rawat had on T...

Xiaomi to bring smart TVs in India under Redmi brand

Chinese tech major Xiaomi will soon introduce smart TVs under the Redmi brand in India as it looks to further expand its position in the burgeoning smart TV segment in the country.Speaking to PTI, Xiaomi India Category Lead Smart TV Eshwar ...

Give Feedback