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European shares extend losses, commodities weigh

European shares extend losses, commodities weigh
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First Published: Wed, Mar 18 2009. 07 01 PM IST
Updated: Wed, Mar 18 2009. 07 01 PM IST
London: European shares extended losses in afternoon trade on Wednesday, tracking weakness in the US stock market and commodity prices, with investors staying cautious ahead of the results of a US Federal Reserve meeting.
At 1327 GMT, the FTSEurofirst 300 index of top European shares was 0.8% lower at 709.73 points after falling as low as 708.69 points. The benchmark has declined 14% so far this year after plunging 45% in 2008.
Commodity shares slipped, tacking weaker crude and metals prices. Royal Dutch Shell, BG Group, Repsol, Total and StatoilHydro shed between 1.2% and 3%.
US benchmark indexes were trading 0.7-1% lower.
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First Published: Wed, Mar 18 2009. 07 01 PM IST
More Topics: Europe | Stocks | Shares | Markets | UniCredit |