LONDON May 6 European stocks fell on Monday,
consolidating recent gains in a thin market and led lower by
German utility E.ON after it traded without rights to
its latest dividend.
The euro zone's blue-chip Euro STOXX 50 index
provisionally closed 13.97 points, or 0.5 percent, lower at
2,749.71 points. It had ended last week near a two-year peak
after strong U.S. monthly jobs data and a European Central Bank
interest rate cut.
The move lower occurred in subdued volumes of just 37
percent of the average 90-day daily average, however, with the
UK, Europe's biggest market, shut for a holiday.
"It's been very quiet and there's been a natural pullback
from the highs set last session," Pete Ward, sales trader at IG
Index, adding most clients expected further weakness on the
German DAX in the near term.
The DAX closed down 0.1 percent, just 0.5 percent off its
all-time record high of 8,151.57 points, with E.ON falling 7.7
percent and making the STOXX Europe 600 Utilities index
the worst-hit sector.