European shares lower as BP weighs, trade tensions intensify again

(Reuters) – European shares were lower on Monday, with shares of oil major BP lagging, while fresh concerns about U.S.-China trade and looming U.S. tariffs on European imports added to the pessimistic mood.

Shares in BP (L:) fell 0.5%, after a report said the oil major’s Chief Executive Officer Bob Dudley is preparing to step down.

The European oil & gas sector () fell 0.4%, weighing the most on the pan-European STOXX 600 index (), which dipped 0.1%.

A report on Friday that the U.S. may limit Chinese company listings on its stock exchanges fueled more U.S.-China trade angst ahead of the critical negotiations next week.

However, a rise in German retail sales in August helped ease some worries that a recession in manufacturing would hurt consumer spending in Europe’s top economy.

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