Commodities

LONDON (ShareCast) - Europe's main markets are posting losses in early dealings Monday morning with energy shares tracking lower crude oil prices.

Royal Dutch Shell (Amsterdam: RDSA.AS - news) and Total are in the red after crude oil finished the week lower. Oil for July delivery fell $1.82 to $69.55 a barrel on New York Mercantile Exchange on Friday after a choppy session with the contract rising to a high of $72.30 earlier in the day.

Across the markets, the German DAX is down 55 points at 4,783 with the French CAC falling 33 points at 3,188. The Swiss market dropped 27 points to 5,394.

In economic news, Europe's central bank president on Sunday warned that governments must start bringing down budget deficits as soon as next year.

"There is a moment where you can't spend any more and you can't accumulate any more debt. I think we are at that moment," Jean-Claude Trichet said on France's Europe-1 radio. Trichet also predicted the global economy will come "close to stability" later this year before picking up in 2010.

Meanwhile, the German Ifo business sentiment survey is due out later today, with figures expected to rise to 85.2 in June from 84.2 the previous month.

CAC 40 (Paris: news) - Risers Carrefour (CA) € 30.01 +1.94% EDF (EDF (Paris: FR0010242511 - news) ) € 35.15 +0.76% Pernod Ricard (Paris: FR0000120693 - news) (RI) € 43.81 +0.70% BNP Paribas (Paris: FR0000131104 - news) (BNP) € 46.38 +0.23% Dexia (DEXB) € 5.65 +0.09% Essilor International (EI) € 33.76 +0.03%

CAC 40 - Fallers Alcatel (Paris: FR0000130007 - news) -Lucent (ALU) € 1.84 -4.96% Renault (RNO) € 26.09 -3.46% ArcelorMittal SA (MT) € 23.37 -3.39% PPR (Paris: FR0000121485 - news) (PP) € 55.32 -2.43% AXA (CS) € 13.40 -2.30% Michelin (Paris: FR0000121261 - news) (ML) € 39.80 -2.24% Bouygues (EN) € 25.64 -2.04% Lafarge (Paris: FR0000120537 - news) (LG (003550.KS - news) ) € 46.28 -1.93% Saint Gobain (Paris: FR0000125007 - news) (SGO) € 24.16 -1.91% Cap Gemini (Paris: FR0000125338 - news) (CAP) € 25.22 -1.87%