Europe shares slip on fresh bank sector concerns

LONDON (BestGrowthStock) – European shares slipped on Thursday, with falls in banks on worries over the sector’s health only partially offset by rallying miners after dollar weakness pushed metals higher across the board.

The pan-European FTSEurofirst 300 (.FTEU3: ) index of top shares provisionally closed 0.2 percent lower at 1,84.93 points, in a choppy session after earlier trading at a five-month intraday high of 1,094.13 points.

Banks were weak, pressured by worries about capital requirements and mirroring falls in U.S. banks after all 50 U.S. states launched a joint investigation of the mortgage industry — a move which could threaten the recovery of the housing market.

“There is news out of the U.S. on investigations into home foreclosures. That’s causing some uncertainty for the banks,” a London-based trader said.

Mining shares were higher, with the STOXX Europe 600 Basic Resources index (.SXPP: ) up 0.9 percent, boosted by the metals price gains as the dollar continued to come under pressure on expectations the U.S. Federal reserve would increase asset purchases to bolster the economy.

Among individual gainers, Actelion (ATLN.VX: ) jumped 6.6 percent on market talk of a takeover bid for the Swiss biotech group.

(Reporting by Harpreet Bhal; editing by Simon Jessop)

Europe shares slip on fresh bank sector concerns