European stocks fall as oil, metal prices extend losses


Warning: This material has been prepared by a third party company, Reuters, which is independent of Davy. Davy has not reviewed the material and accepts no responsibility for errors or omissions, or for the information or opinions contained therein. It does not constitute investment advice.

 (For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
    June 23 (Reuters) - European shares fell on Thursday,
dragged down by energy and mining stocks due to sliding
commodity prices on worries about slowing economic growth, with
several broker calls also spurring big moves in stocks.  
    The continent-wide STOXX 600 index  .STOXX  dropped 1.1% by
0724 GMT, with oil & gas stocks  .SXEP  slipping 1.8% as crude
prices fell almost 2%.  O/R 
    Miners  .SXPP  shed 2.2% as copper and other metals extended
recent declines on growing fears about a recession. MET/L 
    Asian stocks struggled and Wall Street ended lower
overnight, after Federal Reserve Chair Jerome Powell said the
U.S. central bank is "strongly committed" to bringing down
inflation and policymakers are not trying to cause a recession
in the process.*:nL1N2Y917N
    Investors are awaiting flash readings of euro zone and UK
business activity for June due later in the day to gauge the
economic toll from soaring inflation and supply-chain issues.
    German real estate group Aroundtown  AT1.DE  tanked almost
10%, after J.P. Morgan downgraded the stock to "underweight",
while Rio Tinto  RIO.L  dropped 1.4% as Morgan Stanley cut
rating to "equal-weight".

 (Reporting by Sruthi Shankar in Bengaluru; Editing by Rashmi
 ((; within U.S. +1 646 223
8780; outside U.S. +91 80 6182 2787;))

Warning: This content may be provided by regulated and unregulated entities and is not created, reviewed or endorsed by Davy. It is provided for general information purposes only and does not constitute a recommendation or solicitation to purchase or sell any security or make any other type of investment or investment decision. Importantly, it does not constitute investment advice, as it does not contemplate the personal circumstances of any particular person or group of persons. Neither Davy nor the providers of the Third Party Content will be liable for any investment decision made based on the reliance on or use of such data, or any liability that may arise due to delays or interruptions in the delivery of the Third Party Content for any reason.