European shares end little changed; Banco Popular cash call hits banks

jueves 26 de mayo de 2016 12:51 GYT
 

(ADVISORY- Reuters plans to replace intra-day European and UK stock market reports with a Live Markets blog on Eikon - see cpurl://apps.cp./cms/?pageId=livemarkets for site in development. See the bottom of the report for more details) Adds closing prices prices)

* STOXX up 0.1 pct after touching 4-week high in previous session

* Bank sector weighed down by Banco Popular rights issue

* Miners top sectoral gainers but oil stocks slip back

* ArcelorMittal rallies after upbeat note from Goldman

By Danilo Masoni and Alistair Smout

MILAN/LONDON, May 26 (Reuters) - European shares steadied on Thursday, with banks coming under pressure after a surprise rights issue by Spain's Banco Popular raised fears that others in the region may follow to strengthen their balance sheets.

The pan-European STOXX Europe 600 ended up 0.1 percent, while the FTSEurofirst 300 added 0.2 percent. Both hit a four-week high in the previous session, helped by a two-day rally in banking stocks.

Europe's banking sector index gave up part of those gains, falling 0.5 percent after Banco Popular announced a 2.5 billion euro cash call, which caught some investors by surprise. Its shares fell more than 26 percent.   Continuación...