Dip in DAX and Lisbon market weigh on European shares

martes 15 de julio de 2014 12:34 GYT
 

* FTSEurofirst 300 closes down 0.4 pct at 1,358.31 points

* DAX falls after weak ZEW data

* BES slumps 14.6 pct, weighs on Lisbon market

* Tendency to buy on dips continues - Reyl CIO

By Sudip Kar-Gupta

LONDON, July 15 (Reuters) - European stocks fell on Tuesday as declining investor morale hit Germany's benchmark DAX equity index and worries over Portugal's Banco Espirito Santo weakened the Lisbon market.

The declines on the DAX and Lisbon's PSI-20 equity index contributed to a retreat by the region's stock markets on Tuesday from the multi-year highs they reached in late June.

The DAX dropped 0.7 percent to 9,719.41 points, down from its record high of 10,050.98 points in late June. The ZEW survey on Tuesday showed that German analyst and investor morale dropped in July for a seventh straight month, to its lowest level since December 2012.

The Lisbon stock market was also hit by a slide in the share prices of Banco Espirito Santo and Portugal Telecom. BES slumped 14.6 while the PSI-20 index closed down 1.1 percent.   Continuación...