European shares dip as miners weaken

European shares dip as miners weaken

European stock markets dipped on Friday, weighed down by a drop in the shares of mining companies and a fall at Swedish construction company Skanska.

The pan-European STOXX 600 and the similar FTSEurofirst 300 were both down by 0.4 per cent.

Mining stocks fell as copper prices eased back.

Skanska also dropped by 5.0 per cent after the company posted second-quarter earnings that missed market forecasts.

However, Vodafone shares rose 2.7 per cent after the British mobile operator company reported a better-than-expected rise in first quarter revenues.

The STOXX 600 index is up by around 10 per cent from a low point reached in June in the immediate aftermath of Britain's shock vote to quit the European Union, but the index remains down by around 7.0 per cent since the start of 2016, according to a news agency report.

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