PARIS, June 16 European stocks slipped in early
trade on Monday, adding to last week's retreat as mounting
violence in Iraq prompted investors to further book profits on
recent lofty equity market gains.
At 0705 GMT, the FTSEurofirst 300 index of top
European shares was down 0.2 percent at 1,386.54 points, further
retreating from a 6-1/2 year high hit last week.
On Sunday, Sunni insurgents in Iraq seized Tal Afar, a
mainly ethnic Turkmen city in northwestern Iraq after heavy
fighting, solidifying their grip on the north after a lightning
offensive that threatens to dismember the country.
Shares in Swiss biotech group Actelion Ltd bucked
the trend, surging 14.9 percent after the firm said its
experimental heart and lung drug Selexipag met its primary goal
in a late-stage study, giving it a potential second big seller
to replenish its product pipeline.
(Reporting by Blaise Robinson; Editing by Sudip Kar-Gupta)