European shares dip early; Vinci among top fallers

PARIS Wed Feb 6, 2013 3:15am EST

PARIS Feb 6 (Reuters) - European stocks inched lower in early trade on Wednesday, halting the previous session's tentative recovery as mixed corporate results kept investors on edge.

French group Vinci was among the top fallers, down 2 percent, after warning of a flat year for its construction and concessions businesses, while ArcelorMittal rose 1.2 percent after the world's largest steelmaker forecast improved demand and earnings in 2013.

At 0809 GMT, the FTSEurofirst 300 index of top European shares was down 0.09 percent at 1,153.09 points. The benchmark dropped 1.5 percent on Monday, before rebounding on Tuesday, ending 0.3 percent higher.

"Monday was a warning that things aren't that rosy, with lots of macro and political risks out there. European indexes might have hit their peak for the next six months," Montaigne Capital fund manager Arnaud Scarpaci said.

"The potential for a further rise in volatility is extremely high. The best thing to do is intraday trading in Europe, or buy U.S. stocks, which are set to benefit from a better macro environment."