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* FTSEurofirst index falls but posts weekly gain
* Faurecia leads automobile stocks lower
* Carrefour gains after sales update
* Greek shares also rise for first time this week
By Sudip Kar-Gupta
LONDON, April 15 (Reuters) - European shares fell on Friday with French car parts maker Faurecia leading automakers down, although a key regional index still ended the week with its best performance in two months.
The STOXX Europe 600 Automobiles and Parts index tumbled 1.7 percent, the top sectoral decliner, as Faurecia shares retreated 3.6 percent after the company said its quarterly sales in China had dropped.
The pan-European FTSEurofirst 300 index slid 0.3 percent, but still managed to advance an overall 3.5 percent this week to mark its best weekly performance since mid-February.
The FTSEurofirst had hit a one-month high earlier in the week. It remains down around 6 percent since the start of 2016, with concerns about a China-led economic slowdown having impacted world stock markets and commodity prices.
“Overall sentiment remains positive, however trading action is clearly pointing towards a slowdown in momentum,” said Markus Huber, trader at City of London Markets.
“In light of stocks being overbought in the short term, markets taking a breather and entering a consolidation pattern would certainly be in order and actually by many considered as healthy and necessary. In order for traders to up their risk exposure further, more good news besides China will be needed.”
Latest data showed China’s economy grew 6.7 percent in the first quarter from a year earlier, meeting expectations and providing additional evidence that a slowdown in the world’s second-largest economy may be bottoming out.
On the positive side, supermarket retailer Carrefour rose 3.8 percent after reporting higher sales in Spain, Italy and Brazil in the first quarter, offsetting a lacklustre performance in France.
Greek shares also rose for the first time this week, helped by a surge in Greek bank stocks.
The European Central Bank (ECB) decided to include European Financial Stability Facility (EFSF) notes in its list of eligible securities for purchasing under its so-called quantitative easing programme, and Greek banks could make gains on these assets.
Today’s European research round-up
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Mike Dolan, Markets Editor EMEA. (Additional reporting by Atul Prakash; Editing by Mark Heinrich)