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Europe: Shares inch lower on weaker energy stocks

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[LONDON] European shares edged lower in early trading on Tuesday dragged by weaker energy shares on the back of lower crude oil prices.

The Stoxx Europe 600 Oil and Gas index fell 0.8 per cent, the worst sector performer, as oil prices fell after Venezuela said that global supplies needed to fall by 10 per cent in order to bring production down to consumption levels.

The Stoxx 600 index was down 0.2 per cent by 0714 GMT after rising about one per cent in the previous session.

Shares of business services firm Regus slumped after a share placement. The stock, down 6 per cent, was the worst performer on the Stoxx 600 index.

REUTERS