European shares dip after ECB rally; Russia-exposed stocks rise

viernes 5 de septiembre de 2014 11:18 GYT

* FTSEurofirst 300 down 0.4 pct, dips from 6-1/2 yr high

* Index set to post fourth weekly gain in a row

* Russia-exposed shares outperform as ceasefire is agreed

By Francesco Canepa

LONDON, Sept 5 (Reuters) - European stocks dipped on Friday as traders cashed in on a brisk rally over the past month, fuelled by expectations of fresh stimulus measures by the European Central Bank.

Shares exposed to Russia outperformed, however, as representatives of Ukraine, the pro-Russian separatist leadership, Russia and the OSCE security watchdog agreed on a ceasefire.

BP, which owns 20 percent of Russia's largest oil producer Rosneft, rose 2.2 percent.

Shares in tyre maker Nokian Tyres, which generates a third of its revenue in Russia, Austrian lender Raiffeisen Bank International, which relies heavily on Russia for profits, and Danish brewer Carlsberg, which has a large exposure to the country, rose between 0.8 percent and 1.8 percent.

At 1434 GMT, the FTSEurofirst 300 index of top European shares was down 0.4 percent at 1,394.84 points, retreating from a 6-1/2 year high hit in the previous session, when the ECB cut rates and announced a new stimulus plan.   Continuación...