European share rally loses steam; Yellen's testimony eyed

lunes 10 de febrero de 2014 11:52 GYT
 

* FTSEurofirst 300 up 0.1 pct, Euro STOXX 50 flat

* Euro STOXX 50 halted by key resistance level

* Latam-exposed Spanish stocks under pressure again

* Despite global outflows, Europe stocks still in vogue

By Blaise Robinson

PARIS, Feb 10 (Reuters) - European stocks steadied on Monday in thin trade, taking a breather after a sharp two-session bounce, as investors awaited clarification on the pace at which the U.S. Federal Reserve plans to further trim stimulus.

Spanish blue-chips Banco Santander, BBVA and Telefonica - which have a huge exposure to Latin America - were down 1.4-1.9 percent, with traders citing worries over local currencies such as the Brazilian real, which dropped 0.6 percent on Monday.

At 1520 GMT, the FTSEurofirst 300 index of top European shares was up 0.1 percent, at 1,301.65 points, following a 2.2 percent rally in two sessions.

The euro zone's blue-chip Euro STOXX 50 index was flat, at 3,038.80 points, after failing to break above a key resistance level at 3,047.84 points representing its 50-day moving average, sending a bearish technical signal.   Continuación...