European shares erase Fed-inspired gains after volatile day
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By Danilo Masoni and Sudip Kar-Gupta
MILAN/LONDON, Dec 18 (Reuters) - European shares fell in volatile trade on Friday, giving up most of the Fed-inspired gains of the previous session as investors took profits before the holiday season.
The pan-European FTSEurofirst 300 index fell 1 percent after gaining 1.3 percent on Thursday. The euro zone's Euro STOXX 50 index fell 1.4 percent.
European stocks had rallied on Thursday as investors took the U.S. Federal Reserve's decision to raise interest rates as a sign of confidence in the world's biggest economy.
"Yesterday's rally was a bit overdone and investors are taking profit as they prepare for the holiday. Lower oil prices this morning and weaker U.S. markets gave the pretext to sell," said Stephan Rieke, senior economist at BHF-BANK in Frankfurt. Continuación...