European stocks inch lower as telecoms offset cars
PARIS, Feb 13 (Reuters) - European stocks ended slightly lower on Wednesday, taking a breather after the previous session's sharp rise as weak telecoms and mining shares overshadowed auto stocks rising on strong results.
The FTSEurofirst 300 index of top European shares unofficially closed 0.05 percent lower at 1,333.49 points. The index gained as much as 0.6 percent in afternoon trading following better-than-expected monthly U.S. retail sales data.
Telefonica (TEF.MC: Quote, Profile, Research) fell 1.9 percent, hit by worries over the prospect of greater competition in Spain, while Vodafone (VOD.L: Quote, Profile, Research) lost 2 percent.
Recently hammered banks rose, with UniCredit (CRDI.MI: Quote, Profile, Research) up 2.7 percent and Commerzbank (CBKG.DE: Quote, Profile, Research) up 4 percent.
"It is tempting to call the bottom of the market, but the economic scenario is far from clear," said Arthur van Slooten, strategist at Societe Generale, in Paris.
(Reporting by Blaise Robinson)
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