Ukraine tensions knock back European equities
* Traders cite concerns over escalating Ukraine tension
* Euro STOXX Volatility Index rises by around 10 pct
* FTSEurofirst 300 down 0.9 pct
* Euro STOXX 50 falls 1.1 pct
* February equity market rally starting to stall
By Sudip Kar-Gupta
LONDON, Feb 27 (Reuters) - Escalating political tension in Ukraine pushed European stock markets lower on Thursday, putting a brake on this month's rally and causing market volatility to rise.
The pan-European FTSEurofirst 300 index, which rebounded in February to approach its highest level since May 2008, fell 0.9 percent to 1,336.77 points in early session trading, adding to a 0.2 percent dip on Wednesday caused by a fall in luxury goods and financial stocks.
The problems in Ukraine have highlighted a broader slump in emerging markets economies this year, which impacted equity markets in January and have hit the earnings of companies - such as luxury goods groups - exposed to those regions. Continuación...