European shares take breather, Bank of Ireland sinks

martes 10 de junio de 2014 03:47 GYT

* FTSEurofirst 300 down 0.1 pct, Euro STOXX 50 down 0.2 pct

* Bank of Ireland sinks as Wilbur Ross sells stake

* Gemalto boosted by Chinese contract

By Francesco Canepa

LONDON, June 10 (Reuters) - European stocks paused on Tuesday after a three-day winning streak fuelled by a package of measures from the European Central Bank, with technical charts indicating a key regional index was overbought.

The pan-European FTSEurofirst 300 index was down 0.1 percent at 1,392.02 points at 0726 GMT, with the euro zone's blue-chip Euro STOXX 50 index down 0.2 percent at 3,299.54 points.

Both indexes, which traded at highs not seen since 2008, had risen for three consecutive days after the ECB cut rates and unveiled new stimulus measures on Thursday.

The rise left the Euro STOXX 50 in "overbought" territory based on a smoothed 14-day Relative Strength Index (RSI) - a momentum indicator - for the first time since October, charts showed.

"On a short-term basis, the momentum could slow down," Philippe Delabarre, an analyst at Trading Central in Paris said. "But this is not going to prevent the continuation of the rise."   Continuación...