LONDON, June 10 European stocks paused early on
Tuesday after a three-day winning streak fuelled by a package of
measures from the European Central Bank, with a key regional
index seen as overbought on a technical basis.
Bank of Ireland (BoI) slumped 4.6 percent after
U.S. billionaire Wilbur Ross sold his stake in the bank, giving
him an estimated gain of over 150 percent on the investment he
made three years ago.
The stock was the top faller on the pan-European
FTSEurofirst 300 index, which was flat at 1,393.11
points at 0704 GMT.
The euro zone's blue-chip Euro STOXX 50 index was
also flat, at 3,304.71, having risen for three consecutive days
after the European Central Bank unveiled new stimulus measures
The rise left the index in "overbought" territory according
to its 14-day Relative Strength Index (RSI) - a momentum
indicator - for the first time since October, charts showed.
"On a short-term basis, the momentum could slow down,"
Philippe Delabarre, an analyst at Trading Central in Paris said.
"But this is not going to prevent the continuation of the rise."
(Reporting By Francesco Canepa; Editing by Lionel Laurent)