Ukraine tensions send European stock investors running for cover

lunes 3 de marzo de 2014 11:47 GYT

* FTSEurofirst 300 falls 2 pct, Euro STOXX 50 off 2.7 pct

* Volatility rises most since 2011 as investors buy protection

* Traders expect Ukraine resolution, uptrend to resume

By Francesco Canepa

LONDON, March 3 (Reuters) - Investors took fright at Russia's military intervention in neighbouring Ukraine on Monday, setting the pan-European FTSEurofirst 300 index on course for its second-biggest daily fall since June.

Companies exposed to the region, such as Austria's Raiffaisen Bank International, were among the top fallers.

"Investors had underestimated the risks of an escalation in Ukraine, so the events over the weekend are a wake-up call for the market," said David Thebault, head of quantitative sales trading at Global Equities in Paris.

Banks were among the top fallers, led by Raiffeisen, which has the largest exposure to Ukraine among European blue chips.

Companies with significant exposure to Russia, such as carmaker Renault and brewer Carlsberg, fell 5.9 percent and 5.4 percent.   Continuación...