Europe shares halt two-day rally; Peugeot drops

Business & Markets 2013
Written by Reuters
Wednesday, 29 May 2013 15:12
A + / A - / Reset

PARIS (May 29): European shares fell early on Wednesday, with a
blue-chip index slipping from a near-two year high hit in the previous
session, although the recent rally was seen as intact.
At 0703 GMT, the FTSEurofirst 300 index of top European shares was
down 0.5 percent at 1,240.94 points. The euro zone's blue chip Euro
STOXX 50 index was down 0.6 percent at 2,820.28 points, retreating
from July 2011 levels hit on Tuesday.
"In terms of technical analysis, this week's surge means that we're in for
another positive wave, at least until the end of next week," said David
Thebault, head of quantitative sales trading, at Global Equities.
"At that point, U.S. jobs data, which is the only clear barometre for the
Fed's quantitative easing programme, will set the tone, and it will
probably be time to book profit."
French car maker PSA Peugeot Citroen dropped 4.5 percent, falling
after a report saying the French automaker is considering a new capital
increase after burning through 2.5 billion euros in cash in the past year. -
Reuters