European stocks: Commodity shares knock Europe off record highs

European stocks eased from all-time highs on Monday, with commodity shares leading the declines, as sentiment soured after weaker-than-expected China trade data and worries about inflation.

Miners fell more than 1 per cent as copper prices dipped after a lower-than-expected Chinese exports data sparked concerns of weakening demand for the red metal.

Oil and gas stocks also declined more than 1 per cent as crude prices pulled back ahead of talks this week between Iran and world powers over a nuclear deal that is expected to boost crude supplies.

The continent-wide STOXX 600 index fell 0.3 per cent after closing at a record high on Friday, with global investors in a cautious mood ahead of US inflation data later this week.

French vouchers and cards provider Edenred rose 1.9 per cent after Deutsche Bank upgraded the stock to “buy”.