European shares slip in early trade; Axa falls

LONDON, Sept 9 (BestGrowthStock) – European shares fell in early
trade on Thursday, with Axa (AXAF.PA: ) down after Australian
authorities blocked a deal that involved selling some of the
French insurer’s assets.
At 0711 GMT, the FTSEurofirst 300 (.FTEU3: ) index of top
European shares was down 0.3 percent at 1,069.30 points, after
rising 1 percent to a four-month closing high in the previous
session,

“If equity markets can run up, they can run down again. The
big issue is whether the market can break out of the range it’s
been in,” said Bernard McAlinden, investment strategist at NCB
Stockbrokers in Dublin.

“Equity markets are getting used to the reality that
economies are slowing quite significantly.”

French insurer Axa fell 2.5 percent after Australia’s
competition regulator blocked National Australia Bank’s (NAB.AX: )
$12 billion bid for AXA Asia Pacific (AXA.AX: ) for a second time,
dashing NAB’s efforts to cement its dominance in the world’s
fourth-largest wealth management market.
(Reporting by Brian Gorman)

European shares slip in early trade; Axa falls