European shares run out of steam as Bayer and energy stocks decline

Irish Continental Group

Industrial metal miners slid 3.2 per cent, hitting an eight-month low as copper and other base metal prices dropped after China’s consumer prices rose at the slowest pace in more than two years in April, while factory gate deflation deepened.Europe’s largest bank HSBC and energy giant BP lost 1.2 per cent and 1.9 per cent respectively as they were trading without the entitlement for dividends.

On the flip side, Swedish real estate company SBB was the top Stoxx 600 gainer, rebounding 12.7 per cent on Thursday after a three-day slide of nearly 44 per cent.The Dow and the S&P 500 were lower in early afternoon trading, pressured by a drop in Disney shares after the company reported a fall in subscriber growth, while PacWest’s latest woes sparked another rout in the regional banking sector.

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