European stocks fell due to mining share losses

European stocks opened lower today, Monday, due to the losses of mining companies with exposure to China, on the back of concerns about its faltering real estate sector, and shares of energy companies fell due to the drop in oil prices.

According to Reuters, the European Stoxx 600 index fell 0.1%, extending its losses from the previous session.

Shares of the basic resources sector, which includes the largest mining companies in Europe, fell 1%, and shares of oil and gas companies fell 0.8%, as crude oil and base metals prices fell amid increasing concerns about the basic resources sector in China and the strengthening of the dollar.

LVMH, which has exposure to China and is the most valuable in general trading in Europe, fell 0.5%.

Geopolitical matters also occupied the minds of investors after a Russian warship fired warning shots at a cargo ship in the Black Sea at the weekend.

Philips (AS:PHG) jumped 4.7% to top the Stoxx 600 index after Dutch investment company Exor acquired a 15% stake in it.