European shares fell from three-month highs on Monday, 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% by 0802 GMT, following sharp declines in Asian stocks.
China posted another record high COVID-19 infections on Monday, 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% as crude prices shed almost 3%, while sliding metal prices weighed on miners, which fell 1.1%.
Other European sectors exposed to China, including automakers and luxury, also fell in early deals.
European shares sit pretty, govt bond yields edge off recent lows
Credit Suisse’s shares slipped 0.3% 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The head of its Swiss unit said “some customers have withdrawn some of their money, but very few have actually closed their accounts,” in an interview to a local newspaper on Sunday.
Brenntag SE fell 7.6% after the German chemicals distributor said it held preliminary discussions for a potential acquisition with US rival Univar Solutions Inc.
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