UK stocks : FTSEurofirst 300 down 0.1 pct
optimistic about the outlook for European equities in spite of recent gains.
"Europe remains one of our overweight markets within our portfolio. Valuations are still relatively attractive with trailing price/earnings ratios at 12-1/2 which is still a full point lower than the long-term average," Patrick Moonen, a senior strategist at ING, said.
Elsewhere among fallers, Fresnillo shed 2.8 percent, with some analysts citing concerns over the potential introduction of a mining royalty in Mexico.
The company said on an analyst call after announcing annual silver production in line with its guidance, that the Mexican government could look at bringing in a royalty on net profit towards the end of this year.
"Perhaps it's that that's spooking investors," RBC analyst Jonathan Guy said, adding that the results were "decent."
Trading volume in Fresnillo stood at 230 percent of its 90-day daily average.
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