Weak commodity prices weigh on European shares

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FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, February 26, 2021. REUTERS/Staff

(Reuters) – European stocks benchmark fell on Tuesday after recording its strongest session in four months a day earlier as heavyweight mining and energy stocks retreated on weaker commodity prices.

The pan-regional STOXX 600 index fell 0.2% in early trading, following Asian markets into the red after Chinaโ€™s top banking and insurance regulator expressed caution over the risk of bubbles bursting in foreign markets.

Oil majors Royal Dutch Shell, BP and Total fell between 1% and 2% as crude prices dropped on worries about slowing demand in China. [O/R]

Oil and gas sector fell 1.4%, while miners declined 0.6%.

German meal-kit delivery company HelloFresh shares, which have more than doubled in the past year, fell 4.6% even as the company reported fourth-quarter sales above market expectations.

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