Europe open: Shares lower as China Covid protests gather pace
European stocks opened lower on Monday after rare protests in China against the country strict anti-Covid measures sparked worries among investors over growth prospects for the world's second-largest economy.
Despite attempts to shut down coverage by China’s dictatorship, hundreds of demonstrators and police clashed in Shanghai on Sunday night as the third day of protests spread to several cities.
The pan-European Stoxx 600 index was down 0.6% at 0820 GMT, with all major regional bourses lower. Asia shares were also down as the unrest spread.
Oil prices hit their lowest levels since January over concerns that Chinese demand could weaken.
In equity news, Brenntag shares fell more than 8% after the German chemicals distributor confirmed that it had held preliminary takeover talks with US rival Univar Solutions.
Telecom Italia shares were down ahead of a potential decision on a takeover bid from Italian state lender CDP.
Reporting by Frank Prenesti for Sharecast.com