LONDON Dec 4 European equity indexes closed off
multi-month highs on Tuesday after an early rally failed to
breach technical resistance, amid ongoing concerns about the
fate of the U.S. economy in 2013.
The pan-European FTSEurofirst 300 provisionally closed down
0.1 percent at 1,120.25 points. It failed to hold on to a
17-month intra-day high of 1,125.79 after Wall Street
opened lower on concerns that U.S politicians may struggle to
reach a compromise on the budget, potentially plunging the
economy into recession.
The EuroSTOXX 50 index of euro zone blue chips
finished 0.2 percent higher at 2,587.49 points, just shy of the
March and September peaks.
"At the moment it is normal consolidation," said Petra
Kerssenbrock, technical analyst at Commerzbank.
"We had a very strong move, two weeks which led us up to the
resistance in the area 2,600 to 2,611 and that is the resistance
that I am really looking at ... We could make a first attempt
this week, but I doubt that it would be successful."