European shares ease as commodity-linked stocks fall on China woes
2023.08.14 03:41
© Reuters. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August11, 2023. REUTERS/Staff/File Photo
(Reuters) – European shares dipped at the open on Monday, as China-exposed mining firms lost ground on concerns over its embattled property sector, while energy firms slipped on dipping oil prices.
By 0703 GMT, the pan-European dipped 0.1%, adding to declines from the previous session.
The , which houses Europe’s largest mining firms lost 1.0%, while slipped 0.8% as prices of crude and base metals fell on heightened concerns over China’s property sector and a firmer dollar. [MET/L]
China-exposed luxury giant and Europe’s most valuable publicly traded firm, LVMH (EPA:) shed 0.5%.
Geopolitics was also on investors’ minds after a Russian warship fired warning shots on a cargo ship in the Black Sea over the weekend.
In a bright spot, Philips (AS:) jumped 4.7% to the top of the STOXX 600 after Dutch investment firm Exor NV (AS:) took a 15% stake in the healthcare company.
