LONDON Feb 15 European shares were broadly flat
on Friday, extending the consolidation phase after a strong
January rally, and with a decline in platinum refiner Johnson
Matthey weighing on markets.
The pan-European FTSEurofirst 300 index was little
changed at 1,163.34 points by 0805 GMT, while the euro zone's
blue-chip Euro STOXX 50 index slipped 0.1 percent to
"We're still in consolidation mode. I don't think we can go
much higher for now. We're running out of steam a little bit and
I think we may trade sideways until early March," said
Clairinvest fund manager Ion-Marc Valahu.
Valahu said a key technical support level for the Euro STOXX
50 was 2,630 points, while one for the DAX stood at 7,624
points, and that if both those indexes fell below those levels,
it could presage a bigger move down over the coming month.
Johnson Matthey was among the worst-performers on the
FTSEurofirst 300, falling 2.5 percent after the company said it
expected to suffer a loss after failing to renew a deal with
Anglo American Platinum.