September 17, 2019 / 7:34 AM / a month ago

European shares lower as Germany's Zalando slumps; oil stocks ease

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Sept 17 (Reuters) - European shares fell on Tuesday, dragged by Germany’s Zalando, while energy stocks gave up some gains as crude prices eased slightly after surging in the aftermath of attacks on oil facilities in Saudi Arabia.

Zalando tumbled 8%, pulling down STOXX 600 index , after a share placement by top investor Kinnevik in the e-commerce retailer.

The pan-European STOXX 600 dropped 0.2%, with the retail index down 0.7%.

Oil and gas stocks retreated from Monday’s gains as crude prices pulled back after the United States hinted at the possible release of crude reserves. The index was up 0.7%.

Investors are also holding off on making big bets ahead of the U.S. Federal Reserve’s policy meeting this week, where it is expected to cut interest rates for the second time this year. (Reporting by Shreyashi Sanyal in Bengaluru Editing by Saumyadeb Chakrabarty)

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