LONDON, Sept 28 European stocks fell for a
second straight day on Tuesday, led lower by banking and auto
shares, as investors shed riskier assets after a report showed
U.S. consumer confidence fell to its lowest since February.
Sentiment also worsened after figures showed single-family
U.S. home prices dipped in July as high unemployment and
millions of foreclosed homes and distressed borrowers kept
stalling a home price recovery. [ID:nN28171424]
The FTSEurofirst 300 .FTEU3 index of top European shares
provisionally closed 0.3 percent lower at 1,070.42 points after
trading in a wide range of 1,061.51-1,077.22.
"We need some sustained evidence that we are transitioning
towards a sustainable growth rate," said Ian Richards, European
equity strategist at RBS.
Financial stocks were among the top losers, with the STOXX
Europe 600 banking index .SX7P falling 1 percent. Standard
Chartered (STAN.L), Royal Bank of Scotland (RBS.L), Allied Irish
Banks (ALBK.I) and Bank of Ireland (BKIR.I) fell between 0.7
percent and 5.7 percent.
(Reporting by Atul Prakash)