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Mining gains offset oil-related weakness for European shares, M&A rolls on
March 13, 2017 / 8:32 AM / 9 months ago

Mining gains offset oil-related weakness for European shares, M&A rolls on

MILAN, March 13 (Reuters) - European shares were little changed in early deals on Monday as gains among miners helped offset weaker energy stocks but investors remained cautious ahead of this week’s Federal Reserve meeting and Dutch elections.

By 0818 GMT, the pan-European STOXX 600 index was flat. The Basic Resources index was the biggest sectoral gainer, up 2.3 percent, after copper prices surged on a soft dollar and supply disruptions.

But gains among materials stocks were offset by a fall in crude oil prices to three-month lows, which sent energy stocks lower, as well as by a pull-back in banking stocks.

Among outstanding movers, Amec Foster rallied 17.8 percent, topping gainers on the STOXX, after John Wood Group made an all-share offer for the UK engineering firm, while Aryzta slumped 8.6 percent after the Swiss food company reported a fall in net profit. (Reporting by Danilo Masoni, Editing by Vikram Subhedar)

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