Europe stocks decline for 2nd day as commodity shares slide

Madrid - Commodity and energy producers led Europe’s shares lower for a second day, with the region’s equities trimming a second weekly gain.

Anglo American and Tullow Oil dragged miners and oil companies down as commodities slipped. Skanska lost 5.1% as the Swedish construction company lowered its outlook for UK non-residential construction activity.

Vodafone Group, on the other hand, rose 2.6% after reporting service revenue that beat analysts’ estimates.

The Stoxx Europe 600 Index dropped 0.4% at 8:19 a.m. in London, paring its weekly gain to 0.3%. While it closed at a four-week high on Wednesday, it’s alternated between daily gains and losses for most of the last week amid corporate earnings and speculation about central-bank stimulus.

President Mario Draghi said on Thursday the European Central Bank will consider increasing stimulus when it has a cleared picture of the impact of the UK vote to leave the European Union.

Almost all industry groups in the Stoxx 600 fell on Friday, with more than 460 of its shares sliding.

Germany’s DAX Index was among the biggest losers in the region, down 0.5%, as Deutsche Lufthansa extended declines into a fourth day after reporting disappointing earnings on Wednesday.