European Stocks Slide as Oil Retreat Drags Energy Companies Down
- Crude falls as Saudi Arabia says output freeze hangs on Iran
- U.S. non-farm payrolls rise 215,000, beating expectations
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European shares started the new quarter with fresh declines as oil companies tumbled and investors assessed the implications of better-than-expected U.S. jobs data.
A measure of energy-related companies fell the most of the 19 industry groups on the Stoxx Europe 600 Index, with Total SA leading the retreat. Crude slipped as Saudi Arabia’s deputy crown prince said the kingdom will only freeze production if Iran and others follow suit. Zurich Insurance Group AG dragged insurers lower.