1. European shares extend slide, led lower by oil shares

European shares extend slide, led lower by oil shares

The pan-European FTSEurofirst 300 index fell 1.2 percent to 1,293.51 points, its lowest level since May 6, extending a 2.3 percent drop in the previous session.

By: | London | Published: June 13, 2016 2:18 PM
european union The pan-European FTS Eurofirst 300 index fell 1.2 percent to 1,293.51 points, its lowest level since May 6, extending a 2.3 percent drop in the previous session.(Reuters)

A top European share index fell to its lowest level in over a month on Monday, tracking losses in Asian and U.S. stocks, as a retreat in the energy sector led markets lower.

The pan-European FTSEurofirst 300 index fell 1.2 percent to 1,293.51 points, its lowest level since May 6, extending a 2.3 percent drop in the previous session.

European shares tracked Asia lower, following a risk-off pattern in global markets as investors grew cautious ahead of central bank meetings this week and a referendum on Britain’s membership of the European Union next week.

One poll out after the market closed on Friday gave the “out” campaign a 10 point lead, though two subsequent polls over the weekend painted a mixed picture over which side was ahead in the EU referendum debate.

Oil and gas shares were among top fallers, down 1.9 percent after Brent crude futures dipped back below $50 a barrel, weighed down by Asia’s darkening economic prospects.

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