LONDON Nov 26 European shares ended a five-day
winning streak on Monday as a slump in Barclays after a
shareholder sold warrants in the company resulted in it leading
both financial stocks and the broader market lower.
The FTSEurofirst 300 index provisionally closed
down 0.6 percent at 1,103.97 points, giving up some ground after
rising 4 percent last week. The euro zone's blue-chip Euro STOXX
50 index also fell 0.6 percent to 2,542.30 points.
The STOXX Europe 600 banking index was Europe's
worst-performing equity sector, down 1.3 percent. British bank
Barclays led fallers, down 5.4 percent after Qatar cashed in its
warrants, resulting in the sale of some 300 million Barclays
Traders said persistent worries over the European political
response to its debt crisis - with separatist parties from
Spain's Catalonia region winning regional elections and a deal
to finance Greece yet to be agreed - would also peg back
equities in coming weeks.
"We're not taking on too much risk at the current point. I
do think last week's rally was overdone and the upside is
limited," said Central Markets senior trader Joe Neighbour.
Neighbour said he had sold Germany's DAX market at
7,300 points and was considering taking out a "short" position
on the banking sector - namely betting on further falls in bank