By Carla Mozee, MarketWatch
LONDON (MarketWatch) -- European stocks edged lower Tuesday,
following a rally in the previous session as waves of money linked
to European Central Bank's asset-buying program wash into
markets.
The Stoxx Europe 600 fell 0.1% to 399.83, as industrials,
consumer services and telecom shares pulled lower. The pan-European
index on Monday
(http://www.marketwatch.com/story/european-stocks-jump-with-germanys-dax-leaping-above-12000-2015-03-16)
jumped 0.9% and marked its first close above the 400 mark since
June 2007, according to FactSet data.
Germany's DAX dropped 0.4% to 12,117.79, slightly retreating
from its 2.2% leap on Monday that pushed the index above 12,000 for
the first time. Analysts have said the export-oriented market has
benefited from a recent slide in the euro (EURUSD), as German goods
become cheaper for overseas customers.
On Tuesday, investors will watch for the key German ZEW
sentiment figure due at 10 a.m. London time, or 6 a.m. Eastern
Time. Decliners in Frankfurt included Linde AG , whose shares fell
1.6% after Citi downgraded the industrial-gases producer to neutral
from buy, citing valuation concerns.
Also due the same time are final eurozone inflation figures for
February. On Monday, ECB Governor Mario Draghi said an economic
recovery is taking hold in the currency bloc, thanks in part to the
central bank's stimulus moves
(http://www.marketwatch.com/story/ecb-president-draghi-says-eurozone-recovery-is-taking-hold-2015-03-17).
Last week, the ECB began buying government bonds and other debt
instruments under its quantitative-easing program.
France's CAC 40 was down 2 points at 5,059.47. The U.K.'s FTSE
100 gained 0.4% to 6,834.14
(http://www.marketwatch.com/story/sainsbury-bhp-guide-ftse-100-higher-but-antofagasta-falls-2015-03-17),
with shares of J. Sainsbury PLC up 1%, following the supermarket
chain's trading update.
Shares of Antofagasta fell 3.2% in London and were among the
worst performers on the Stoxx 600. The move came after the copper
miner's yearly net profit fell to $459.8 million
(http://www.marketwatch.com/story/antofagasta-net-profit-falls-30-2015-03-17),
missing expectations of $676 million from a FactSet poll of
analysts.
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