Europe stocks end down; all eyes on G20 talks

PARIS, Oct 22 (BestGrowthStock) – European stocks ended slightly
lower on Friday, as worries over the outcome of the G20 meeting
prompted investors to book some profits after key indexes hit
six-month highs in the previous session.

The FTSEurofirst 300 (.FTEU3: ) index of top European shares
unofficially closed 0.4 percent lower at 1,089.29 points, while
the Euro STOXX 50 (.STOXX50E: ), the euro zone’s blue chip index,
ended 0.4 percent lower at 2,872.14 points.

“Earnings have been pretty good and a lot of stocks rose
this week on the back of this, so people are using the excuse of
currency tensions with the G20 meeting to cash in profits,” said
David Thebault, head of quantitative sales trading, at Global
Equities, in Paris.

Consumer-related stocks, which had surged earlier in the
week, featured among the biggest losers on Friday. LVMH
(LVMH.PA: ) lost 1.1 percent and L’Oreal (OREP.PA: ) surrendered 1.9
percent.

On the first day of a two-day meeting meant to smooth the
path for a G20 summit in Seoul on Nov. 11-12, the United States
struggled to win backing for its proposal of setting targets for
external imbalances as a way of pressing surplus countries such
as China to let their exchange rates rise. [ID:nTOE69L00U]

(Reporting by Blaise Robinson)

Europe stocks end down; all eyes on G20 talks