European shares slip as EDF and bank stocks fall
(Updates with closing prices)
* FTSEurofirst 300 index closes down 0.3 pct
* EDF down after CFO quits
* JP Morgan cuts equities to underweight
* Old Mutual boosted by break-up talk
By Danilo Masoni
MILAN, March 7 (Reuters) - European shares fell on Monday, led lower by a slump in utility EDF after a senior executive quit, and by weaker bank stocks which were hit by some broker price target cuts.
European stocks have rallied after a rocky start to 2016, as oil prices recovered and fears over a U.S. economic slowdown abated. Nevertheless, the pan-European FTSEurofirst 300 index remains down around 7 percent so far in 2016.
JP Morgan Cazenove reduced its rating on equities to "underweight" for the first time since 2007, saying the recent market rebound was set to peter out. Continuación...