LONDON Dec 20 European equity indexes fell from
multi-month highs on Thursday after new signs of friction in
U.S. budget talks, with many traders looking to sell shares
after recent rallies to lock in profits before the year-end.
The pan-European FTSEurofirst 300 index, which
closed near a fresh 19-month high on Wednesday, slipped 0.2
percent to 1,139.95 points, while the euro zone's Euro STOXX 50
index fell 0.4 percent to 2,644.75 points.
Mobile network maker Ericsson led fallers on the
index as it declined by 2.3 percent after announcing a fourth
quarter write-down, hurting other technology stocks and causing
the STOXX 600 technology sector to fall 0.8 percent.
U.S. politicians remain locked in talks to find a deal to
avoid a "fiscal cliff" of government spending cuts and tax rises
due to take effect in early 2013 that could hurt the world's
"We're opening in the red this morning because of the
failure to come to any concrete deal on the 'fiscal cliff',"
said Central Markets senior broker Joe Neighbour.
"If there are profits to be had, we'll be looking to take
them off the table. The dip buyers still seem to be there to
look to take the market back up but we'll be looking to keep
flat as we go into the new year," he added.