Europe stocks fall as banks see profit-taking after ECB tests

lunes 27 de octubre de 2014 13:32 GYT
 

(Updates with closing levels; adds quotes, details)

* FTSEurofirst 300 down 0.6 pct, trims last week's gains

* Investors book profits on banking shares after ECB tests

* Morgan Stanley strategists remain 'overweight banks'

By Blaise Robinson and Sudip Kar-Gupta

PARIS/LONDON, Oct 27 (Reuters) - European stocks fell on Monday as investors booked recent gains after the European Central Bank review of the region's banks and a German business sentiment index dropped to its lowest in almost two years.

Most euro zone banking stocks ended the session in negative territory, trimming lofty gains made in the run-up to the results of the ECB review.

"Buy the rumour, sell the news: that's what we saw today. Overall the results from the ECB tests are positive, but the rally had already happened," FXCM analyst Vincent Ganne said.

Among the few gainers, shares in Austria's Erste Group Bank added 3.5 percent and Raiffeisen Bank International rose 2.1 percent. Both banks passed the tests.   Continuación...