European shares at 3-week low on worries over Ukraine

lunes 14 de abril de 2014 06:57 GYT

* FTSEurofirst 300 index falls 0.5 percent

* Tech shares down 1.6 pct, tracks Nasdaq sell-off

* Charts signal further weakness in near term

By Atul Prakash

LONDON, April 14 (Reuters) - European shares extended losses on Monday, with a major index slipping to its lowest level in three weeks, as fresh tension in Ukraine prompted investors to shun cyclical sectors such as travel, autos and technology.

Charts also pointed to a bearish outlook in the near term and the broader market remained vulnerable to further sell-offs, technical analysts said.

The pan-European FTSEurofirst 300 index was down 0.5 percent at 1,305.78 points by 1017 GMT, after falling as low as 1,301.98, its weakest since late March. The index fell 3 percent last week, and analysts said the trouble in Ukraine could prevent it from bouncing back anytime soon.

Cyclicals lost ground, with the STOXX Europe 600 Travel and Leisure index down 2.3 percent, tech shares falling 1.9 percent and autos down 1.8 percent.

However, losses were capped by a rise in some defensive sectors, such as personal and household goods and food and beverages, which were up more than 1 percent.   Continuación...