Europe shares slip; weak banks offset tech stocks

* FTSEurofirst 300 down 0.6 pct

* Banks slip; caution over Greece, Goldman concerns

* Technology shares advance; Apple results help

* For up-to-the-minute market news, click on [STXNEWS/EU]

By Harpreet Bhal

LONDON, April 21 (BestGrowthStock) – European shares slipped on
Wednesday, with banks pressured by lingering concern on Greece
as Athens begins talks over an emergency loan deal, offsetting
gains in tech stocks which rose on strong results from Apple.

By 1058 GMT, the FTSEurofirst 300 (.FTEU3: ) index of top
European shares was down 0.6 percent at 1,097.04 points after
rising 1.4 percent on Tuesday. The index has surged around 70
percent since hitting a record low in early March last year.

“The market is looking very tired today. We’ve had a good
raft of corporate numbers out in the last 24 hours and the
market insists on selling off with banks and mining stocks
heading lower,” said Manoj Ladwa, senior trader at ETX Capital.

Banks were among the biggest fallers, with Barclays
(BARC.L: ), HSBC (HSBA.L: ), Societe Generale (SOGN.PA: ), BNP Paribas
(BNPP.PA: ) and Deutsche Bank (DBKGn.DE: ) off 1.1 to 2.5 percent as
jitters over an emergency loan package for debt-laden Greece
resurfaced.

The IMF’s threat of new taxes to cover the cost of any
bailouts added to jitters on the banking sector, while action by
the U.S. and British regulators against Goldman Sachs also
dimmed sentiment. [ID:nLDE63J2J2]

Greece started talks with EU and International Monetary Fund
officials on Wednesday to hammer out details of an economic plan
that could offer the euro zone member 40 billion to 45 billion
euros to exit a debt crisis. [ID:nLDE63K0CE]

The premium investors demand to buy Greek government bonds
rather than euro zone benchmark Bunds rose to its highest in 12
years on Wednesday.

On the upside, ARM (ARM.L: ) and Infineon (IFXGn.DE: ) jumped
3.3 and 3 percent respectively on market talk of possible
interest from larger suitors and after upbeat results from Apple
(AAPL.O: ).

Apple’s results blew past Wall Street expectations on the
back of record iPhone sales, and the company gave a strong
revenue forecast, sending its shares up more than 5 percent to
an all-time high. [ID:nN19112324]

Within the sector in Europe, Ericsson (ERICb.ST: ), Logitech
(LOGN.VX: ), STMicroelectronics (STM.PA: ) and ASML Holding
(ASML.AS: ) rose 0.5 to 2.7 percent.

Across Europe, Britain’s FTSE 100 (.FTSE: ), Germany’s DAX
(.GDAXI: ) and France’s CAC 40 (.FCHI: ) shed 0.3 to 0.9 percent.

SUPERMARKETS STRONG

Food retailers were among the gainers, benefitting by
Goldman Sachs’s move to up its target on the sector to “neutral”
from “cautious”.

Tesco (TSCO.L: ), WM Morrison (MRW.L, J Sainsbury ),
Jeronimo Martins (JMT.LS: ) and Metro AG (MEOG.DE: ) added 0.4 to
4.8 percent.

Mining companies were lower, as metals prices reversed
earlier gains. Anglo American (AAL.L: ), Eurasian Natural
Resources (ENRC.L: ), Kazakhmys (KAZ.L: ), Xstrata (XTA.L: ) and Rio
Tinto (RIO.L: ) fell 2.2 to 3.3 percent.

BHP Billiton (BLT.L: ) fell 2.4 percent after reporting lower
quarterly production across metals and coal, with copper
particularly hard hit. [ID:nSGE63K01R]
Stock Market News

(Editing by Hans Peters)

Europe shares slip; weak banks offset tech stocks