Weaker energy stocks hit European shares

London - European shares fell sharply on Tuesday, with a further slide in crude oil prices hitting energy stocks and British grocer Tesco plunging after another profit warning.

Tesco shares fell 15% after it slashed its full-year outlook by almost a third in the latest downgrade sparked by an accounting scandal and intense competition in its home market.

The FTSEurofirst 300 index of top European shares was down 1.1% at 1 381.16 points by 10:09 after falling 0.7% in the previous session.

The Stoxx Europe 600 Oil and Gas index fell 2.4%, the biggest sectoral decliner, after Brent oil slipped to a five-year low below $66 a barrel following a drop of more than 4% the day before on worries of a swelling supply glut.

BP, Tullow Oil, Statoil and Respsol fell 2% to 3.2%.