European shares fall in early trade, Barclays down

Tue Nov 10, 2009 8:20am GMT
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LONDON, Nov 10 (Reuters) - European shares edged lower in early trading on Tuesday, snapping a four-session winning streak, with Barclays (BARC.L: Quote, Profile, Research) leading financials down after announcing quarterly results.

At 0819 GMT, the FTSEurofirst 300 index of top European shares was down 0.2 percent at 1,010.68 points after jumping 2 percent in the previous session.

"On a medium term basis, there is a typical consolidation mood after a bull market that we have seen since March," said Achim Matzke, a strategist at Commerzbank in Frankfurt.

Banks were among the top losers, with Barclays falling 2.7 percent despite posting a 1.56 billion pound ($2.6 billion) profit in the third quarter. [ID:nLA601181]

Standard Chartered (STAN.L: Quote, Profile, Research), Lloyds (LLOY.L: Quote, Profile, Research), BNP Paribas (BNPP.PA: Quote, Profile, Research) and Societe Generale (SOGN.PA: Quote, Profile, Research) fell 0.2 to 0.8 percent.

HSBC (HSBA.L: Quote, Profile, Research), however, advanced 1.3 percent after its trading update. (Reporting by Atul Prakash)

 
 
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