European shares slip as banking and energy stocks fall

By: | Published: September 26, 2016 1:20 PM

European stocks fell on Monday as a pullback in the shares of major banking and energy companies weighed on the region's markets.

european shares-l-reuThe pan-European STOXX 600 index fell 0.7 percent in early session trading. (Source: Reuters)

European stocks fell on Monday as a pullback in the shares of major banking and energy companies weighed on the region’s markets.

The pan-European STOXX 600 index fell 0.7 percent in early session trading. The index remains down by around 6 percent since the start of 2016.

The STOXX Europe 600 Banking index fell 1.2 percent, with British bank Lloyds declining by 1.3 percent after Goldman Sachs cut its rating on Lloyds to “sell” from “neutral.

The STOXX Europe 600 Oil & Gas index also fell 1.4 percent, reflecting a sharp drop in oil prices in recent sessions. Crude oil prices had tumbled 4 percent on Friday, although oil prices edged back up a touch on Monday.

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