LONDON Jan 31 A leading pan-European stock
index fell on Thursday, hit by drops in brewing group AB Inbev
and oil major Shell, and some expected further
weakness in the near term.
The pan-European FTSEurofirst 300 index
provisionally closed down 0.2 percent at 1,168.35 points, while
the euro zone's blue-chip Euro STOXX 50 index fell
0.8 percent to 2,710.04 points.
AB Inbev slumped 7.6 percent to take the most points off the
broader index after the U.S. Justice Department filed a lawsuit
seeking to stop it from a full takeover of Mexican brewer Grupo
Royal Dutch Shell also retreated by roughly 3 percent after
its fourth-quarter results significantly undershot expectations.
Rupert Baker, who handles European equity sales at Mirabaud
Securities, said there could be a near-term pull back on
European equity markets but he expected an eventual recovery.
"The market has had a strong run and it's now topping out a
bit. But there is still a bullish underbelly which has not been
derailed yet," he said.