(MENAFN- Saudi Press Agency) LONDON Muharram 23 1437 November 05 2015 SPA -- European shares retreated on Thursday as commodity-related stocks were sold off heavily on a stronger dollar and some companies slumped after reporting disappointing results Reuters reported.
The European mining index fell 1 percent after major industrial metals such as copper aluminium and nickel fell about 1 percent. Metals prices came under pressure from a rally in the dollar after Federal Reserve Chair Janet Yellen pointed to a possible December interest rate hike.
A stronger U.S. currency generally makes dollar-priced commodities costlier for holders of other currencies and hits metals demand.
The FTSEurofirst 300 index was down 0.2 percent at 1498.40 points by 0912 GMT having closed up 0.5 percent the previous day. Among sectors energy stocks also fell dragged down by a 1.4 to 3.0 percent drop in BP BG Group and Royal Dutch Shell.
--SPA
12:52 LOCAL TIME 09:52 GMT
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