Europe shares pause after sell-off; Morrison sinks

jueves 13 de marzo de 2014 05:13 GYT

* FTSEurofirst 300 up 0.2 pct, Euro STOXX 50 up 0.2 pct

* Morrison's warning sparks sell-off among UK retailers

* Mounting worries over Chinese growth limit rebound

By Blaise Robinson

PARIS, March 13 (Reuters) - European stocks inched higher early trade on Thursday, halting their two-week slide, although a sell-off among UK retailers after a profit warning by Morrison's limited the rebound.

Shares in Adecco, the world's largest staffing agency, were also among the top losers, down 8 percent after Swiss investment firm Jacobs Holding and the Jacobs family sold a 16 percent stake for 2.2 billion swiss francs ($2.5 billion).

At 0845 GMT, the FTSEurofirst 300 index of top European shares was up 0.2 percent at 1,309.22 points. The index has slipped 3.2 percent since late February, hurt by tensions in Ukraine and worries over a slowdown in Chinese economic growth.

"It's a perfect market for swing traders," TradingSat analyst Alexandre Tixier said.

"We've entered a very volatile consolidation phase, and the best strategy is to go contrarian and buy when there's a big negative move, and sell when stocks quickly bounce back. The market could stay in this phase for a couple of months."   Continuación...