Europe share rally loses steam; Spanish stocks hit

lunes 10 de febrero de 2014 13:37 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 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 derive about half of their revenues from Latin America - took another beating, down 1.2-1.9 percent. Traders cited worries over local currencies such as the Brazilian real, which dropped 0.8 percent on Monday.

"It's better to stay away from stocks with exposure to emerging markets, where trouble may just be starting," said Riccardo Designori, market analyst at Brown Editore in Milan.   Continuación...