LONDON Nov 12 European shares ended lower for a
fourth straight session on Monday, with mounting uncertainties
related to a looming U.S. fiscal crisis and the next tranche of
aid for Greece hurting investor sentiment.
Analysts said if the euro zone's blue-chip Euro STOXX 50
index failed to recover in the coming days and fell
around another 1.5 percent to 2,440 points, then 'stop-loss'
sell orders could be triggered and lead to further declines.
The index fell 0.2 percent to 2,474.96 points, while the
FTSEurofirst 300 index provisionally ended 0.2 percent
lower at 1,095.44 points on concerns about the U.S. "fiscal
cliff" of scheduled spending cuts and tax rises from next year
and the Greek situation.
"The 'fiscal cliff' is really a burden for the market. Most
probably the lawmakers will come to an agreement early next
year, but that's the problem, as this uncertainty will continue
until then. Greece is also a big issue for the market," said
Christian Stocker, equity strategist at UniCredit in Munich.
Among the sectors worst hit were those more exposed to any
weakening in the macroeconomic outlook, including construction
and materials, down 0.9 percent.