European shares pull back from two-week high

jueves 18 de febrero de 2016 13:43 GYT
 

* FTSEurofirst 300 index ends lower

* Energy firms turn lower after supply data

* Nestle falls after disappointing results (Adds detail, closing prices)

By Atul Prakash and Alistair Smout

LONDON, Feb 18 (Reuters) - European equities fell back after climbing to a two-week high on Thursday, as support from gains in tech shares was counteracted by a decline in commodity related stocks in the energy and mining sectors.

The pan-European FTSEurofirst 300 index was 0.1 percent lower at 1,293.92 points by the close, having touched 1,304.97 points earlier in the session - its highest level since Feb. 4.

It had ended 2.7 percent stronger on Wednesday following a surge in oil prices, but came back from highs as Wall Street turned lower, having posted its first three-day rally of 2016.

Oil and gas shares ended in negative territory after a rise in U.S. crude stocks underlined the glut in supply, putting pressure on oil prices.

The FTSEurofirst 300 is up 5 percent this week, set for its biggest weekly rise since January 2015. It has been buoyed by a recovery in the price of oil and receding fears over global growth, although the index remains down 10 percent this year.   Continuación...