LONDON Nov 29 European shares extended the
previous session's losses on Tuesday, with commodities-related
stocks coming under renewed selling pressure after a sharp
decline in metals and oil prices.
The broader market also weakened after Swiss biotech firm
Actelion fell more than 6 percent on a report saying
the company was not actively considering selling itself, but
instead weighing a "complicated deal" to link with Johnson &
The European basic resources index dropped 1.7
percent, the top sectoral decliner, as prices of major
industrial metals fell 1 to 2.2 percent after recent strong
gains. The oil and gas index also fell and was last
quoted 0.8 percent lower.
The pan-European STOXX 600 index was down 0.4
percent by 0811 GMT. It finished 0.8 percent lower in the
previous session, weighed down by a drop in banks which were led
lower by Italian lenders on continued worries over a cash call
at troubled lender Monte dei Paschi.
Italy's benchmark banking index, however, gained
0.5 percent after recent sharp declines.
(Reporting by Atul Prakash)