Europe shares reverse winning streak; banks weigh
April 3rd, 2008 | by admin |FRANKFURT, April 3 (Reuters) - European stocks fell onThursday, reversing a two-day winning streak, as worries offurther writedowns weighed on banks such as UBS (UBSN.VX: Quote, Profile, Research) anddata showed a slowdown in euro zone economic growth.
The FTSEurofirst 300 index of top European sharesclosed unofficially 0.5 percent lower at 1,310.84 points, havinggained more than 4 percent over the past two sessions on hopesthat the worst of the asset writedowns in the banking sector maybe over.
The DJ Stoxx European banks index fell 2 percent asUBS and Britain’s Lloyds TSB (LLOY.L: Quote, Profile, Research) fell 4.7 percent each.
“Fears returned to the volatile banking sector,” BarclaysWealth said in a note.
Among notable gainers, Syngenta shares (SYNN.VX: Quote, Profile, Research) rose 5.9 percent after the Swiss agrochemicals group raised its earningsoutlook, cashing in on roaring demand for farm goods. (Reporting by Peter Starck)
