* FTSEurofirst 300 flat, Euro STOXX 50 down 0.3 pct
* Market pauses following Monday's sharp gains
By Blaise Robinson
PARIS, Aug 26 European shares slipped in early
trade on Tuesday, giving up some of the previous session's sharp
gains that were fuelled by prospects of further stimulus
measures from the European Central Bank.
The UK market, shut on Monday for a holiday, gained ground,
with the FTSE 100 index up 0.4 percent, led by WPP
Shares in the global advertising group gained 2.1 percent
after it posted first-half profit slightly ahead of forecasts,
and confirmed its target.
Antofagasta dropped 2.2 percent after the copper
miner posted a fall in first-half core profit, hurt by higher
production costs and lower copper prices.
At 0800 GMT, the FTSEurofirst 300 index of top
European shares was flat at 1,366.94 points.
The euro zone's blue-chip Euro STOXX 50 index
was down 0.3 percent, at 3,157.33 points, after surging 2.2
percent on Monday, boosted by comments from ECB President Mario
"Stocks are taking a breather following yesterday's
acceleration. The mood remains quite positive after Draghi's
comments which confirmed that the ECB is determined to fight
deflation," Saxo Bank trader Pierre Martin said.
Speaking on Friday at a global central banking conference in
Jackson Hole, Wyoming, Draghi said the central was prepared to
respond with all its "available" tools should inflation drop
The remarks - which have sent the euro to a one-year
low against the dollar - have been fuelling speculation the ECB
could embark on a large-scale asset-buying scheme known as
quantitative easing, or QE, to pump cash into the financial
system and revive inflation.
European stocks have surged since mid-2012, with the
FTSEurofirst 300 gaining 45 percent, a rally that was sparked by
comments from Draghi saying the ECB would do whatever it takes
to save the euro.
The rally lost steam in June, however, as investors worried
about the impact from the crisis in Ukraine and sanctions
against Russia, and after a batch of strong U.S. macro economic
data fuelled speculation the Federal Reserve could raise
interest rates sooner than expected.
Europe bourses in 2014: link.reuters.com/pap87v
Asset performance in 2014: link.reuters.com/gap87v
Today's European research round-up
(Editing by Mark Potter)