European shares little changed; Continental down, energy up

lunes 9 de noviembre de 2015 06:12 GYT

* FTSEurofirst 300 down 0.05 percent

* Continental down as outlook lift already priced in

* Energy shares lifted by stronger crude

By Danilo Masoni

MILAN, Nov 9 (Reuters) - European shares were little changed in mid-morning trade on Monday with losses among auto sector stocks led by Continental and Renault offset by gains among energy plays.

The FTSEurofirst 300 index was down 0.05 percent, having closed up 0.3 percent on Friday, and the euro zone's blue-chip Euro STOXX 50 fell 0.01 percent.

Traders said markets were struggling to find a clear direction and some profit taking was kicking in, although the overall mood was good as the outlook for U.S. interest rates became clearer following a stronger-than-expected jobs report last week.

"For European stocks an added bonus constitutes the renewed weakness in the euro resulting from a shift in U.S. interest rate expectations, making them not only more competitive but also more attractive as an investment," Pegrine & Black trader Markus Huber said.

Continental fell 4.5 percent as investors cashed in profits after the German tyre maker revised up its full-year profit outlook following an 11 percent quarterly earnings gain on higher car demand in Europe and North America.   Continuación...