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