European shares fell on Monday, led by weaker commodity stocks tracking falling oil and metals prices, while Commerzbank slipped 10 percent after it agreed to buy Dresdner Bank from Allianz.
Investors should abandon defensive positions and broaden their portfolios to get a jump on the next U.S. bull market, Charlie Morris, head of Absolute Return HSBC Investments, told CNBC Wednesday.
European shares fell on Monday in a volatile session, as easing crude oil pared some of the gains in energy shares, while the firmer euro dented retailer and auto stocks.
European shares gained on Friday, withstanding a heavy drag from falling mining stocks, while better-than-expected U.S. manufacturing data helped ease recessionary fears and oil continued its downward slide.
European shares ended a choppy session in positive territory on Thursday as a recovery in commodity prices helped energy and mining shares and fears over price pressures were partially quelled by U.S. inflation data.
European shares dropped on Wednesday as fresh concern about the impact of the credit crunch on the banking sector hit financial shares, while a late spike in the oil price rekindled worries about inflation.
European shares ended with losses on Tuesday as the region's financial stocks suffered following further writedowns from the third-largest U.S. bank JPMorgan.
European shares rose to six-week highs on Monday as the euro boosted exporters such as automotive stocks, while fighting between Russia and Georgia gave early support to crude oil prices that helped the energy sector.
European shares ended a volatile session with gains on Friday as a sharp drop in crude oil more than offset initial disappointment over earnings from U.S. home lender Fannie Mae.
European shares ended Thursday's choppy session down slightly as concern about the reach of the credit crunch offset a potentially supportive shift in market expectations for no more euro zone rate rises this year.