* FTSEurofirst 300 down 0.1 pct, Euro STOXX 50 down 0.2 pct
* Bank of Ireland sinks as Wilbur Ross sells stake
* Gemalto boosted by Chinese contract
By Francesco Canepa
LONDON, June 10 European stocks paused on
Tuesday after a three-day winning streak fuelled by a package of
measures from the European Central Bank, with technical charts
indicating a key regional index was overbought.
The pan-European FTSEurofirst 300 index was down
0.1 percent at 1,392.02 points at 0726 GMT, with the euro zone's
blue-chip Euro STOXX 50 index down 0.2 percent at
Both indexes, which traded at highs not seen since 2008, had
risen for three consecutive days after the ECB cut rates and
unveiled new stimulus measures on Thursday.
The rise left the Euro STOXX 50 in "overbought" territory
based on a smoothed 14-day Relative Strength Index (RSI) - a
momentum indicator - for the first time since October, charts
"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."
The Euro STOXX 50 has surged 60 percent over the past two
years, supported by ECB action and, more recently, tentative
signs of recovery in parts of the region.
Among investors taking profit on the rally was U.S.
billionaire Wilbur Ross, who said he would sell his 5.5 percent
stake in Bank of Ireland three years after his
investment, making an estimated profit of over 150 percent.
"The sale... reinforces our view that there remains little
in the way of incremental positive catalysts on the horizon for
(Bank of Ireland)," analysts at Nomura wrote in a note, cutting
their target price for the stock.
Digital security company Gemalto was the top
FTSEurofirst riser, up 3.1 percent, as it the said it had been
selected by China Telecom as one of the suppliers to support the
commercial roll-out of mobile contactless services.
Europe bourses in 2014: link.reuters.com/pap87v
Asset performance in 2014: link.reuters.com/gap87v
Today's European research round-up
(Reporting By Francesco Canepa: editing by John Stonestreet)