LONDON Nov 26 European shares edged lower in
early trading on Monday, with investors focusing on a meeting of
euro zone finance ministers on Greece and taking some profits
following last week's strong performance by major stock indexes.
At 0804 GMT, the FTSEurofirst 300 index of top European
shares was 0.3 percent lower at 1,106.69 points after gaining
for five straight sessions and surging 4 percent last week, the
best weekly performance since early December last year.
Analysts said the market had potential to bounce back again
on any positive outcome of the euro zone meeting, in which the
ministers and International Monetary Fund officials will again
try to reach a deal to get international lenders to release a
new tranche of aid to debt-stricken Greece.
"Last week was very good for the markets and it seems that
investors are taking a breather ahead of the euro zone meeting.
There is some caution, but it is also clear that Greece's
lenders will not allow the country to fail. A Greek default is
not an option," Koen De Leus, senior economist at KBC, in
"We are on the optimistic side. Investors should have
stop-losses in place to minimise their losses, but should be
prepared to buy the dips."
Banks, down 0.5 percent, were the top sectoral
decliner. Barclays fell 3.6 percent after news that
Qatar Holding has cashed in on its remaining warrants in the