By Carla Mozee, MarketWatch
LONDON (MarketWatch) -- European stocks slipped Tuesday, pulling
the regional equity index away from the highest finish since early
2008 that it notched in the previous session.
The Stoxx Europe 600 shed 0.1% to 348.33. It ended up 0.4% on
Monday at 348.61, the strongest close since Jan. 9, 2008, according
to FactSet data.
Stock benchmarks across Europe have reached multiyear or record
highs recently in anticipation and in response to a range of easing
measures launched by the European Central Bank, which has been
grappling with low levels of inflation and lackluster economic
growth in the euro area.
Germany's DAX 30 on Monday hit a record close of 10,008.63. On
Tuesday, the index slipped 0.1% to 9,997.09, with auto makers BMW
and Volkswagen AG each down by 0.8%.
Logging the steepest decline on the Stoxx 600 was Bank of
Ireland . The stock fell 2.8% after the lender said U.S.
billionaire investor Wilbur Ross Jr. will sell his remaining stake
in the company and has resigned as a director.
Booker Group PLC was also hit, falling 3.2% after Goldman Sachs
dropped the food wholesaler from its pan-Europe conviction buy
list. Sports Direct International PLC was also removed from
Goldman's conviction buy list "as the upside to our target price is
now lower following a period of good performance. We have higher
conviction elsewhere in the European retail sector as a result,"
said analysts at Goldman. Sports Direct shares were off 0.4%.
The U.K. FTSE 100 index was down 0.4% at 6,847.14, with BG Group
PLC shares off 1.4% after Exane BNP Paribas cut its rating on the
oil company to neutral from outperform.
In France, the CAC 40 gave up 0.1% to 4,586.21 following three
consecutive winning sessions.
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