Miners weigh on European stocks after best day in four months

  • 3/9/2021
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(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window) March 9 (Reuters) - European shares slipped on Tuesday after posting their best session in four months, as a retreat in commodity prices pressured miners. The pan-European STOXX 600 was down 0.1% in early deals, with miners falling 1.9% and automakers dropping 1%. Dalian iron ore futures fell by the 10% daily limit after anti-pollution restrictions in China’s top steelmaking city of Tangshan, while metal prices were also hit by a firm dollar. UK-listed miners Rio Tinto, BHP Group and Anglo American fell more than 2%, weighing on UK’s commodity-heavy FTSE 100. The German DAX eased 0.3% after hitting an all-time high in the previous session. German automotive parts maker Continental AG fell 5.1% after it reported a 12.7% drop in group sales, thanks in part to falling revenue in the automotive, rubber and powertrain divisions. (Reporting by Sruthi Shankar and Devik Jain in Bengaluru; Editing by Subhranshu Sahu)

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