European shares weighed down by oils
, May 13, 2016
European stocks fell in early deals on Friday following losses in Asia overnight and a pullback in crude oil prices.
The pan-European FTSEurofirst 300 index fell 0.7 per cent, while the euro zone's blue-chip Euro STOXX 50 index fell 0.8 per cent.
The oil sector index fell 1 per cent after crude oil prices fell as a stronger dollar weighed and Russia warned that a global crude supply overhang could last into next year.
Carmaker BMW fell 3.7 per cent, among the leading losers on the FTSEurofirst, as the stock traded ex dividend.
But Bouygues rose 3.7 per cent after operating loss at the French construction-to-media conglomerate came in better than expected. - Reuters