European stocks decline with shares of commodities-related companies falling

European stocks opened lower on Monday, led by losses from miners with exposure to China on concerns about its ailing real estate sector, and energy stocks fell on lower oil prices.

And by 0703 GMT, the European Stoxx 600 index fell 0.1 percent, extending losses from the previous session.

Shares in the basic resources sector, which includes the largest mining companies in Europe, fell 1 percent, and shares of oil and gas companies fell 0.8 percent, as crude oil and base metals prices fell amid growing 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 publicly traded stock in Europe, fell 0.5 percent.

Geopolitics also preoccupied investors’ minds 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 after Dutch investment firm Exor acquired a 15% stake.