LONDON Jan 8 European shares were led lower by
bank and mining stocks as the market continued to consolidate
recent gains, although low volatility signalled few expect a
The pan-European FTSEurofirst 300 index, which had
risen to a 22-month high last week, was down by 0.2 percent at
1,159.33 points. The euro zone's blue-chip Euro STOXX 50 index
fell 0.3 percent to 2,686.13 points.
"In the short-term, we will see a consolidation in the
market and on certain sectors which have risen sharply in recent
weeks, such as the banks," said Arnaud Scarpaci, fund manager at
Paris-based Montaigne Capital.
Scarpaci added, however, that he expected the fall on
European stock markets to be relatively small and minor and for
equities to soon recover ground again.
Volatility on the E-STOXX 50, as measured by the Euro STOXX
Volatility Index, remained near multi-year lows at