Miners weigh on European stocks after best day in four months

March 9, 2021: European shares slipped on Tuesday after posting their best session in four months, as a retreat in commodity prices pressured miners.

The pan-European STOXX 600 was down 0.1% in early deals, with miners falling 1.9% and automakers dropping 1%.

Dalian iron ore futures fell by the 10% daily limit after anti-pollution restrictions in China's top steelmaking city of Tangshan, while metal prices were also hit by a firm dollar.

UK-listed miners Rio Tinto, BHP Group and Anglo American fell more than 2%, weighing on UK's commodity-heavy FTSE 100.

The German DAX eased 0.3% after hitting an all-time high in the previous session.

German automotive parts maker Continental AG fell 5.1% after it reported a 12.7% drop in group sales, thanks in part to falling revenue in the automotive, rubber and powertrain divisions.

Reuters