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Europe: Shares fall as oil slump hits energy stocks

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European stocks fell in early trading on Tuesday, with the relentless drop in oil prices fuelling worries over the prospect for corporate profits in the energy sector.

[PARIS] European stocks fell in early trading on Tuesday, with the relentless drop in oil prices fuelling worries over the prospect for corporate profits in the energy sector.

At 0803 GMT, the FTSEurofirst 300 index of top European shares was down 0.5 per cent at 1,351.67 points.

Total was down 1.9 percent and Royal Dutch Shell down 1.5 per cent, as Brent futures tumbled to US$45.43 a barrel, down 4.2 per cent.

Bucking the trend, shares in German retailer Metro rose 3.3 per cent after the group said it saw a recovery at its wholesale and consumer electronics units gain pace in the last three months of 2014, making up for weakness at its department stores.

REUTERS

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