European shares slip on widening Ukraine tensions

viernes 7 de marzo de 2014 05:27 GYT
 

* FTSEurofirst 300 down 0.6 pct, Euro STOXX 50 down 0.6 pct

* Stocks with big exposure to Russia under renewed pressure

* U.S. investors continue to pour money into Europe -Lipper

By Blaise Robinson

PARIS, March 7 (Reuters) - European shares slipped in early trade on Friday as investors were wary of the risks of another escalation in tensions between Russia and Ukraine over the weekend.

Shares of companies most exposed to Russia were among the biggest losers. Investors also avoided taking fresh bets ahead of U.S. jobs data due later in the day that will provide insight on the state of the world's biggest economy and could influence the Federal Reserve's policy outlook.

At 0847 GMT, the FTSEurofirst 300 index of top European shares was down 0.6 percent at 1,336.63 points. After taking a hit on Monday, the index reversed most of the selloff that was sparked by an escalation in tensions between Ukraine and Russia.

"Stocks have been yo-yoing this week, and indexes are back to near multi-year high levels, so it's tempting to cash in a bit of profits in case things flare up again in Ukraine during the weekend," Saxo Bank trader Andrea Tueni said.

After diplomatic efforts to cool the crisis in Ukraine calmed markets over the past few days, tensions were rising again, with U.S. President Barack Obama unveiling sanctions against Russia, ordering visa bans and asset freezes against so far unidentified persons deemed responsible for threatening Ukraine's sovereignty.   Continuación...