European stocks fall as oil, metal prices extend losses

Reuters

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    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.   urn:newsml:reuters.com:*: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
Aich)
 ((sruthi.shankar@thomsonreuters.com; within U.S. +1 646 223
8780; outside U.S. +91 80 6182 2787;))

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