Web Sify
Follow us on

European shares end flat, telecom stocks fall

Source : REUTERS
Last Updated: Sat, Dec 08, 2012 19:02 hrs

LONDON, Dec 7 (Reuters) - European stocks closed flat in choppy trade on Friday, as worries that U.S. politicians may fail to strike a deal to avoid growth-curbing austerity measures pushed equities off earlier highs.

The pan-European FTSEurofirst 300 index, which hit 18-month highs this week, provisionally closed flat at 1,131.88 points.

The euro zone's blue-chip Euro STOXX 50 index edged lower by 0.2 percent to 2,599.30 points.

Gains in major healthcare stocks were offset by a fall in the telecoms sector. The STOXX 600 telecoms index declined 0.6 percent, dragged down by a 2.7 percent fall in Deutsche Telekom after it cut its dividend.

"I wouldn't buy the market here. I think the best thing is to sell on rallies," said Richard Edwards, who heads trading and analytics firm HED Capital.

blog comments powered by Disqus
most popular on facebook
talking point on sify finance