BRUSSELS, Nov 28 — European shares fell from three-month highs today, led by declines in energy, retail, and mining stocks, as widespread protests in China against strict Covid-19 curbs sparked a wave of selling in global markets.
The pan-European STOXX 600 index slipped 0.5 per cent by 0802 GMT, following sharp declines in Asian stocks.
China posted another record high Covid-19 infections today after an extraordinary weekend of protests, raising worries about the management of China's zero-Covid policy and its impact on the world's second-largest economy.
European oil stocks tumbled 2.0 per cent as crude prices shed almost 3 per cent, while sliding metal prices weighed on miners, which fell 1.1 per cent.
Other European sectors exposed to China, including automakers and luxury, also fell in early deals.
Credit Suisse's shares slipped 0.3 per cent to a fresh record low. The head of its Swiss unit said "some customers have withdrawn some of their money, but very few have actually closed their accounts," in an interview to a local newspaper yesterday.
Brenntag SE fell 7.6 per cent after the German chemicals distributor said it held preliminary discussions for a potential acquisition with US rival Univar Solutions Inc. — Reuters
