Weaker Tullow and Vivendi drag European shares from highs

lunes 2 de marzo de 2015 09:09 GYT

* FTSEurofirst 300 down 0.5 pct after touching seven-year high

* Tullow Oil down on speculation over potential FTSE 100 exit

* Vivendi falls after plan to sell stake in Numericable

By Atul Prakash

LONDON, March 2 (Reuters) - Europe's FTSEurofirst 300 index retreated from a seven-year high on Monday, with Tullow Oil down on concerns that it could be dropped from Britain's blue-chip index after a quarterly reshuffle and Vivendi falling after a stake disposal.

Greek banks also came under pressure from lingering concerns over its debt repayment plans.

Tullow Oil slid 6.8 percent to feature among the top fallers on the FTSEurofist 300 on concerns the stock could be replaced on Britain's FTSE 100 index by Hikma Pharmaceuticals this month, traders said.

"Investors are worried that a likely drop from the FTSE will prompt tracker funds and some exchange-traded funds to sell Tullow Oil shares to reduce their weightings," Jawaid Afsar, trader at Securequity, said.

Vivendi fell 5.1 percent after the French media group agreed to sell its remaining stake in Numericable-SFR to Altice at a price analysts and traders viewed as low. Vivendi slipped despite announcing a share buyback at a maximum purchase price of 20 euros a share.   Continuación...