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European shares open lower as oil prices extend drop
January 26, 2016 / 8:22 AM / 2 years ago

European shares open lower as oil prices extend drop

MILAN, Jan 26 (Reuters) - European shares opened lower on Tuesday, extending losses seen in the previous session, on the back of a fall in Asia and as oil prices continued their drop to dip below the $30 mark.

By 0810 GMT, the pan-European FTSEurofirst 300 was down 1.6 percent, while the euro zone’s blue chip Euro Stoxx 50 index was down 1.5 percent.

The slide in oil prices pushed energy sector stocks down 3 percent, making them the top sectoral loser, followed by mining and banking stocks, down 2.7 percent and 2.2 percent respectively.

Among the few gainers, shares in Siemens rose 4 percent after Europe’s biggest industrial group raised its full-year earnings forecast on strong first-quarter results. (Reporting by Danilo Masoni; Editing by Sudip Kar-Gupta)

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