European shares decline after falls for luxury and commodity stocks

Traders work on the floor of the New York Stock Exchange. European shares fell on Tuesday as commodity-linked stocks tracked declining prices, while investors also assessed the chances of Republican candidate Donald Trump winning the US presidential race. Photograph: Angela Weiss/AFP via Getty Images

AIB gained 1.4 per cent to €5.28, but Bank of Ireland edged 0.15 per cent lower to €10.20. Food stocks also fell, though Kerry Group was down just 0.2 per cent by the end of the session, finishing at €78.05.London’s benchmark FTSE 100 closed 0.2 per cent lower, falling for a second straight session on Tuesday as it was hurt by fresh declines in Burberry shares as well as a drop in metal and oil stocks after commodities came under pressure from weaker-than-expected Chinese data.

Discount retailer B & climbed 4.3 per cent after it reported higher first-quarter revenue and 19 store openings. The ZEW economic research institute said German investor morale deteriorated more than expected in July, registering its first fall in a year, and suggested the recovery in the euro zone’s largest economy will be bumpy.

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European stocks give up early end of week gainsShares in AIB, for which the Government said it would dispose of a further 5% block, finished off 0.24%
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