Europe's stock rally pauses as euro steadies

viernes 13 de marzo de 2015 08:33 GYT

* FTSEurofirst 300 down 0.4 pct, slips from 7-year high

* Strong negative correlation between euro and European stocks

* DAX set for longest streak of weekly gains since 1998

By Blaise Robinson and Francesco Canepa

PARIS/LONDON, March 13 (Reuters) - European stocks were slightly down around midday on Friday, taking a breather from their almost-uninterrupted rally since the start of the year, with energy and mining shares falling along with commodity prices.

Resource-related shares led the retreat, with French oil major Total down 2 percent and global miner Rio Tinto down 0.8 percent.

Spain's Sabadell fell for second day, after a source told Reuters the bank was considering a 1.5 billion euro capital hike via a share issue to fund a bid for Britain's TSB , which was announced on Thursday.

Commerzbank surged 3.8 percent, with traders citing relief that a U.S. fine announced the previous day was in line with market expectations.

Following the recent sharp drop in the euro currency which has helped fuel the rally in the region's stocks, investors were wary of a potential technical bounce in the euro in the coming days which could trigger a bout of profit-taking in equities.   Continuación...