LONDON Jan 20 European shares retreated from
5-1/2-year highs on Monday, with banking shares under pressure
after Deutsche Bank posted a surprise pre-tax loss
and miners slipping in the wake of data showing easing Chinese
Deutsche Bank fell 4.2 percent after reporting a loss of
1.15 billion euros for the fourth quarter due to heavy costs for
litigation and restructuring. Deutsche Bank also warned that
2014 would be another year of challenges and reform.
The STOXX Europe 600 banking index fell 1 percent,
the top sectoral faller, dragging the FTSEurofirst 300
index down 0.3 percent to 1,340.91 points by 0807 GMT. The index
closed at a 5-1/2 year high on Friday.
The European mining index fell 0.8 percent after
data showed Chinese growth eased to 7.7 percent in the last
quarter of 2013 from 7.8 percent the previous quarter. Some
analysts predict China, the world's biggest metals consumer,
will keep losing momentum this year.
Trading was likely to be thin as the markets in the United
States are closed on Monday for the Martin Luther King Day