CORRECTION – – CORRECTED-European shares edge lower as banks fall

(Correcting headline to read European shares, not European

LONDON, April 30 (BestGrowthStock) – European shares edged lower on
Friday, with investors taking profits after sharp gains in the
previous session and keeping a close eye on the developments
related to a proposed multi-billion-euro aid package for Greece.

At 0712 GMT, the FTSEurofirst 300 (.FTEU3: ) index of top
European shares was down 0.1 percent at 1,069.40 points after
closing 1.3 percent higher in the previous session.

Banks were among the top losers, with HSBC (HSBA.L: ), BNP
Paribas (BNPP.PA: ) and Societe Generale (SOGN.PA: ) down 0.1 to 0.6
percent. Barclays (BARC.L: ) was down 3.9 percent after announcing
trading update. [ID:nLDE63S0UM]

“There may be a bit of profit taking today. We had a decent
rebound and may be it reacted over-enthusiastically to the
improving prospect,” said Mike Lenhoff, chief strategist at
Brewin Dolphin.

“The background does seem to be definitely improving for the
eurozone’s public debt crisis. Fundamentals for the market are
still improving. The earnings that are coming through, not just
on Wall Street but everywhere now, are very supportive.”

European Commission President Jose Manuel Barroso said on
Friday that a multi-billion-euro aid package for Greece will be
hammered out within days and will prevent the crisis from
spilling over to other countries.

Investing Research

(Reporting by Atul Prakash)

CORRECTION – – CORRECTED-European shares edge lower as banks fall