Europe Stocks Off; Broker Moves Hit RWE, Insurers

By Amwal Al Ghad English On Jul 2, 2013

European stock markets traded mostly lower on Tuesday, following a data-driven rally the prior session. The Stoxx Europe 600 index fell 0.3% to 287.45, with insurers among those moving lower after a broker downgrade. Shares of Munich Re AG and Hannover Re SE fell 1% each after those moves.

Shares of RWE AG fell 2.4% after a broker cut, while Burberry Group PLC rose 2.7% and Michelin rose 2.5% after broker upgrades. The German DAX 30 index fell 0.5% to 7,947.79, the French CAC 40 index fell 0.3% to 3,757.54 and the FTSE 100 index fell 0.2% to 6,292.64.

Source : Markwtwatch