European Shares Fall on Mining

European shares fell on Tuesday from their unprecedented levels, as traders awaited upcoming meetings of central banks to elicit indications on decisions to gradually reduce stimulus and interest rates, while the decline in iron ore prices affected the shares of mining companies.

The European Stoxx 600 index fell 0.3 percent by 0813 GMT, while the performance of Asian stocks was mixed amid tension ahead of the meetings of the US Federal Reserve and the Bank of England this week, in which central banks can reduce the pandemic-related stimulus.

Mining stocks led the losses, falling 2.4 percent due to the decline in the iron ore market and the decline in copper prices.

The Stoxx 600 closed on Monday at an unprecedented high, supported by strong corporate results and a jump in banking stocks on expectations of a rate hike by the European Central Bank next year.