European shares fell as lower commodity prices hurt mining and energy stocks. Online grocery group Ocado also performed poorly, falling 3.3 percent amid fears of growing competition from Amazon. The FTSEurofirst 300 index of leading European companies closed 0.53 percent lower, while the euro-area blue-chip Euro Stoxx 50 fell 0.8 percent after both rose in the previous session.
Britain’s FTSE fell 0.6 percent and Germany’s DAX 1.1 percent. Brent crude moved toward an eleven-year low as US inventories rose and Saudi Arabia reaffirmed its oil commitments. This pushed oil companies such as BP and Total lower. British mining shares also fell with metal prices amid persistent concern about a slowdown in China, the world’s largest metals consumer.
The FTSE was around 4 percent below its level at the start of the year after retreating from an April record high. The source ends while contrasting this with the performance of other European stock markets.