STOXX 600 down 0.4

Feb 6 Reuters European shares fell on Monday, led by losses in Aurubis AG, the continent39;s largest copper producer, while fears that the global ratehiking cycle may persist for longer kept investors on edge.

The panEuropean STOXX 600 was down 0.4 at 0815 GMT, after clocking two consecutive weeks of gains on optimism that the United States and the euro zone would likely avoid a recession.

All the sector indices, barring telecommunications, were in the red. Basic resources and technology bore the brunt of selling pressure, dropping around 1 each.

Aurubis AG dropped 6.4 after posting a roughly 24 fall in quarterly earnings due to high energy prices and inflation.

Eurazeo slipped 0.8 after the French private equity and investment company named a new executive board and said current chief executive, Virginie Morgon, would leave her role.

Meanwhile, Rovio Entertainment jumped 13 after the producer of the 39;Angry Birds39; video game said it had begun preliminary nonbinding talks with parties, including Playtika Holding Corp, regarding a potential tender offer.

Banco BPM, Italy39;s thirdlargest bank, gained nearly 1 on plans to generate greater value longerterm from its retailers39; payment business as it explores strategic options for the unit.

Reporting by Ankika Biswasin Bengaluru; Editing by Savio D39;Souza

Source Reuters