European shares slide to low, euro zone banks lead

LONDON Mon Feb 4, 2013 7:06pm IST

Stocks

   

LONDON (Reuters) - European shares extended early falls to hit an intraday low on Monday, led by euro zone banks after weak results from Commerzbank (CBKG.DE) weighed on the sector.

At 1328 GMT, the pan-European FTSEurofirst 300 .FTEU3 index of leading shares was down 0.9 percent at 1,157.34 points, just off session lows.

Commerzbank was third-top faller across the broader index, down 4.5 percent after it posted a larger than expected quarterly loss.

"We're well overdue a bit of a sell-off... you've also got some very disappointing results from Commerzbank this morning which have basically fed into the banking sector," Michael Hewson, senior markets analyst at CMC Markets, said.

(Reporting by Tricia Wright; editing by Simon Jessop)

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