Oil majors drag European shares lower; GS awaited

LONDON, Oct 19 (BestGrowthStock) – European shares fell on Tuesday,
with oil majors pressured by falls in crude prices as the dollar
rebounded, and with investors awaiting results from U.S. banks,
including Goldman Sachs (GS.N: ) for further direction.

By 0707 GMT, the pan-European FTSEurofirst 300 (.FTEU3: )
index of top shares was down 0.2 percent at 1,086.18 points,
retreating from a near-six month closing high on Monday.

Oil majors fell, with the STOXX Europe 600 oil and gas index
(.SXEP: ) down 1.8 percent, tracking falls in crude prices (CLc1: )
as the dollar rebounded after Washington pledged its desire for
a strong dollar in the face of growing speculation of
quantitative easing in the United States.

“Having priced in QE, markets are wondering about whether
they have over anticipated the extent of it. If the only thing
that is tempering the markets expectations of the amount of QE
is better-than-expected economic data then that’s still good
news,” said Bernard McAlinden, investment strategist at NCB
Stockbrokers in Dublin.

Technology firms were also lower, after U.S. peer Apple
(AAPL.O: ) posted disappointing sales of its iPad tablet computer.
ARM Holdings (ARM.L: ), Capgemini (CAPP.PA: ) and Aixtron (AIXGn.DE: )
fell 1.6 to 2.4 percent. [ID:nN18288374]
(Reporting by Harpreet Bhal)

Oil majors drag European shares lower; GS awaited