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Europe shares end down on China bank move, Ireland

Published 11/19/2010, 11:53 AM
Updated 11/19/2010, 11:56 AM

LONDON, Nov 19 (Reuters) - European shares fell on Friday after China raised its banking reserve requirements, hurting miners on fears the move would hit global growth prospects, while concerns about the Irish debt crisis hit banks.

The pan-European FTSEurofirst 300 index of top shares provisionally closed down 0.6 percent at 1,101.50 points and ended the week down 0.2 percent.

"The week has been dominated by euro zone peripheral debt concerns and I sense very few people want to hold onto positions over the weekend," Jeremy Batstone-Carr, head of equities at Charles Stanley, said.

"The Chinese move had a negative impact on the miners, but the big one investors are watching for is what the Chinese will decide to do about their base rates. We will not get any further information of this until the next inflation data comes out."

Miners fell on the news, with Antofagasta, BHP Billiton, Eurasian Natural Resources Corporation and Xstrata down 1.5 to 1.9 percent. (Reporting by Joanne Frearson)

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