Stocks

European shares fall; commodity and travel stocks underperform

Reuters London | Updated on January 20, 2018 Published on May 19, 2016

European equities retreated on Thursday, with weaker oil and metal prices putting pressure on commodity stocks, while concerns about another US rate hike in the near-term also weighed on markets.

An EgyptAir flight from Paris to Cairo with 66 people, including 26 foreigners, on board today crashed in the Mediterranean Sea after it vanished from radar screens in Egyptian airspace, aviation officials said.

Airline, travel and leisure stocks also fell after Egyptair said that one of its planes, carrying 66 passengers and crew on a flight from Paris to Cairo, had gone missing.

Officials with the airline and the Egyptian civil aviation department told Reuters they believed the Airbus A320 had probably crashed into the sea.

The pan-European FTSEurofirst 300 index, which had risen 0.8 per cent in the previous session, was down by 0.5 per cent in early session trading.

Shares in British holiday company Thomas Cook slumped 15 per cent after Thomas Cook reported lower summer bookings, while Airbus’ shares were down 0.9 percent.

Published on May 19, 2016
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