Telcoms, miners weigh down European shares

Tue Nov 10, 2009 5:31pm GMT
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* FTSEurofirst 300 index closes down 0.2 pct

* Vodafone slips, disappointing results

* HSBC gains on Q3 profit

By Joanne Frearson

LONDON, Nov 10 (Reuters) - European shares closed lower on Tuesday, snapping a four-day winning streak, weighed down by telecoms after disappointing results from Vodafone (VOD.L: Quote, Profile, Research) and mining stocks tracking weaker metal prices.

The pan-European FTSEurofirst 300 index of top shares closed down 0.2 percent at 1,010.23 points.

The benchmark index has gained nearly 57 percent since reaching a record low in early March and is up 21 percent for the year.

"We have had a fairly uncertain day, sometimes positive and sometimes negative. The market has been fairly indecisive about which way it wants to go. Much of it hinges on the progress Wall Street makes," said Mike Lenhoff, a strategist at Brewin Dolphin.

"I don't know how confident people feel. I think in many ways they are overwhelmed by the fact the market has been so defiant in its progress."  Continued...

 
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