European shares head for best month in 3 years

viernes 30 de enero de 2015 08:31 GYT
 

* FTSEurofirst 300 dips, but set for best month since late 2011

* 'Europe on the verge of an upgrade cycle' -Morgan Stanley

* Greek shares recover, ATG index still down 12 pct on week

By Blaise Robinson

PARIS, Jan 30 (Reuters) - European stocks dipped on Friday, with Banca Monte dei Paschi di Siena skidding 6.5 percent after sources said a planned capital increase at the lender might be bigger than expected.

The troubled Italian bank is considering raising the size of its capital hike to around 3.5 billion euros ($4 billion), one billion euros more than initially planned, the sources said.

At 1207 GMT, the FTSEurofirst 300 index of top European shares was down 0.2 percent at 1,470.40 points. However, it was up 7.4 percent since the start of January - on track to post its best monthly performance in three years and outpacing Wall Street where the S&P 500 was down 1.8 percent since the start of the year.

"It's a little pause ahead of the weekend, but there's no real selling pressure and technically, charts show that indexes are still in a bullish trend," Saxo Bank trader Andrea Tueni said.

"People are just cautious, with a couple of potential negative catalysts like Russia and Greece in mind, so it's tempting to book profits."   Continuación...