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European shares close flat; US sentiment weakens

Published 10/15/2010, 11:41 AM
Updated 10/15/2010, 11:44 AM

LONDON, Oct 15 (Reuters) - European shares closed flat on Friday after U.S. consumer sentiment weakened, offsetting indications from Federal Reserve Chairman Ben Bernanke that more stimulus was on the way.

The pan-European FTSEurofirst 300 index of top shares fell 0.04 percent to a provisional close of 1,084.22 points.

U.S. consumer sentiment unexpectedly dipped in early October to its weakest level since July, with buying plans on the decline, a survey released Friday showed.

"The consumer confidence numbers have taken the shine off the market," said Bob Parker, senior adviser at Credit Suisse. "The market is technically overbought and we are likely to have a pause at these levels."

Europe's biggest retailer Carrefour fell 3.9 percent after it trimmed its 2010 profit forecast due to weak sales in French hypermarkets and pointed to problems in Brazil, raising concerns over the execution of its turnaround plan. (Reporting by Brian Gorman)

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