European stocks take break after rally, German utilities shine

lunes 12 de octubre de 2015 10:34 GYT

* RWE and E.ON pass key test on nuclear plan; shares rally

* Pan-European index FTSEurofirst 300 down 0.2 pct

* Rolls Royce and Safran hit by concerns over EU probe

By Danilo Masoni

MILAN, Oct 12 (Reuters) - European shares were slightly lower on Monday after reaching one-month highs in a rally last week, with civil aerospace stocks leading the fallers and German utilities soaring after concerns over nuclear costs eased.

The pan-European FTSEurofirst 300 index and the euro zone's blue-chip Euro STOXX 50 index both fell around 0.2 percent. The two indexes are up more than 4 percent so far this month.

Traders said it was no surprise that some investors were taking profits following last week's gains, while Japanese markets were closed for a holiday and the United States was celebrating Columbus Day.

"The market is consolidating after last week's rally, also because of the holidays in the U.S. and Japan," ActivTrades chief market analyst Carlo Alberto De Casa said.

He said investors would be focusing on Chinese trade balance data, but most of all on U.S. economic statistics later this week, for more indications as to when the Federal Reserve will increase rates, the main focus for markets in recent weeks.   Continuación...