of 2013, rather than deeper worries over the euro zone's economic problems.
"Some of the gloss to the rally has been removed but it's more of a corrective sell-off rather than a negative one," he said.
The FTSEurofirst remains up from a 2013 low of 1,132.73 points. The Euro STOXX 50 is also up some 26 percent from lows reached last June, after a pledge by the European Central Bank (ECB) last year to do "whatever it takes" to protect the euro currency lifted equity markets.
Rupert Baker, a European equity sales executive at Mirabaud Securities, said investors were still buying up shares on days when the market fell for relatively cheap prices, on expectations of a gradual rise in European equities in 2013.
"Private client fund managers are still inclined to buy on the dip," he said.