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European mining and energy share indexes hit 12-year lows

LONDON, Jan 20 (Reuters) - European basic resources and energy share indexes slumped to their lowest levels in more than 12 years on Wednesday, with a sharp decline in oil and metals prices scaring investors away from commodities stocks.

The STOXX Europe 600 Basic Resources index fell 4.2 percent, while the region’s oil and gas index slipped 3.8 percent, with both touching their lowest levels since 2003.

Shares in commodities-related companies such as BHP Billiton , Anglo American. Glencore and Royal Dutch Shell fell between 5.7 percent and 7 percent.

The basic resources index has fallen more than 20 percent in just three weeks of 2016 after slumping 35 percent in the previous year. The oil and gas index is down 13 percent so far this year after falling 8 percent in 2015. (Reporting by Atul Prakash; Editing by Sudip Kar-Gupta)

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