Europe stocks pause after four-day winning run
* FTSEurofirst 300 down 0.1 pct after 4-day winning streak
* HSBC rises, Barclays sinks after both banks post updates
* Volkswagen's preferred stock tumbles on placing news
* For up-to-the-minute market news, click on [STXNEWS/EU]
PARIS, Nov 10 (Reuters) - European stocks were slightly lower around midday on Tuesday, pausing after a four-session winning run, as telecom shares dipped after disappointing Vodafone (VOD.L) results and miners fell along with metal prices.
But the drop was limited by strong gains in HSBC (HSBA.L) after the UK's biggest lender posted a reassuring update.
Preferred shares in Volkswagen (VOWG_p.DE) plummeted nearly 14 percent and ordinary shares (VOWG.DE) fell 2.8 percent after Qatar Holding LLC (QH) said it plans to sell up to 25 million preference shares in Volkswagen, worth about 1.8 billion euros.
At 1226 GMT, the FTSEurofirst 300 .FTEU3 index of top European shares was down 0.1 percent at 1,010.79 points.
Europe's benchmark index has risen about 4.3 percent over the past week, but remains down 2 percent from a 12-month high reached in mid-October.
The broader DJ STOXX 600 .STOXX was also slightly lower around midday, at 245.35 points.
"The STOXX 600 is currently stuck in a range, with a support level at 241.79 and a resistance level at 250.46. But I'm cautious on the short term as we could soon get another correction phase," said Alexandre Le Drogoff, technical analyst at Aurel BGC, in Paris.
"If the 20-day moving average and 50-day moving average cross each other, it would mean that the recent trend reversal has more legs. This is something we're keeping an eye on."
The two moving averages for both the DJ STOXX 600 and the FTSEurofirst 300 have moved closer to each other over the past few weeks, as the stock market's strong eight-month rally lost steam.
Investors were also cautious after the German ZEW economic think tank's monthly poll showed German analyst and investor sentiment declined by more than expected in November, dropping to its lowest level in four months. Continued...
