Europe: Shares fall as Doha oil deal fails

[MILAN] European shares fell in early trading on Monday, with oil stocks leading the market lower as crude prices tumbled after a meeting by major exporters in Doha collapsed without a deal to freeze output.

The STOXX Europe Oil and Gas index fell 3.4 per cent, making it the top sectoral loser with shares in Royal Dutch Shell, Total and Eni all down by more than 3 per cent.

The pan-European FTSEurofirst 300 index fell 1.2 per cent by 0710 GMT.

But Reckitt Benckiser rose around 1 per cent, topping gainers on the FTSEurofirst, after it reported slightly better than expected quarterly sales and affirmed its full-year forecast.

REUTERS