LONDON, June 15 Weak basic resources stocks amid
depressed crude prices sent European shares sliding for the
second straight session on Thursday.
Investors awaited interest rate decisions from the Bank of
England and Swiss National Bank due later in the day, though
market expectations are for both to keep rates on hold.
Crude prices wallowed near a seven-month low as doubts grew
over OPEC's ability to cut oil supplies, weighing on stocks
The pan-European STOXX 600 benchmark fell 0.5
percent to its lowest since April 24, while Euro zone stocks
and blue-chips fell 0.8 percent.
Germany's DAX fell 0.3 percent, just off its new
record high touched on Wednesday.
Britain's FTSE was down 0.6 percent while mid-caps
fell 1.1 percent.
Basic resource stocks Anglo American, Randgold
Resources and Polymetal were among the worst
Retailers were also weak, as lukewarm results and downbeat
company updates sent the pan-European index to a
H&M shares fell 2.7 percent after its May sales
missed forecasts, adding to a string of softer figures from the
fashion retailer which blamed tough trading conditions.
DFS Furniture plummeted 21 percent on Britain's
small-cap index after a profit warning which it blamed on a dip
in demand, with significant declines in store footfall amid a
weaker trading environment it said was market-wide.
Among notable broker activity, Petrofac shares rose
to the top of the European index after a Jefferies upgrade,
while telecoms firm Proximus fell 3.3 percent after
suffering a cut to 'sell' from Citi.
Stocks in Athens were down 0.2 percent ahead of a
Eurogroup meeting which could yield a short-term debt agreement.
(Reporting by Helen Reid, Editing by Vikram Subhedar)