UPDATE 1-European stock rally stalls, retailers pressured

martes 18 de febrero de 2014 13:51 GYT
 

* Euro STOXX 50 down 0.1 pct, FTSEurofirst 300 flat

* Analysts see near-term Euro STOXX 50 drop to 3,063

* Spain's Inditex falls on currency concerns

By Tricia Wright

LONDON, Feb 18 (Reuters) - Europe's top shares steadied on Tuesday, held back by retailers, as traders bet the market rally that followed the emerging-market slump had run out of steam.

The euro zone's blue-chip Euro STOXX 50 closed down 0.1 percent at 3,117.44 points, consolidating further after a slight drop in the previous session. The losses followed a rally of nearly 6 percent from early February's lows.

Analysts saw scope for the index to level off, some 2 percent shy of a peak hit in late January, before political and economic concerns in emerging markets took their toll on equities.

"Certainly in the near term it looks like it's getting a little bit tired on the upside," said Barclays Capital analyst Lynnden Branigan, who reckoned on a near-term drop to 3,063, the February 13 low.   Continuación...