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Europe shares end lower for 4th day; pharma down

Published 09/03/2009, 12:20 PM
Updated 09/03/2009, 12:24 PM
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LONDON, Sept 3 (Reuters) - European shares ended lower for a fourth consecutive session on Thursday, with weaker energy and pharmaceutical stocks outpacing gains made by financial and mining equities.

The FTSEurofirst 300 index of top European shares provisionally closed 0.04 percent lower at 950.03 points after trading in a wide range of 947.37-958.02. The benchmark index is up 14 percent this year and has surged 47 percent since hitting a record low in early March.

Drugmakers took the most points off the index, with AstraZeneca, GlaxoSmithKline, Merck, Novartis, Novo Nordisk, Roche Holding and Sanofi-Aventis down 0.6 and 2.2 percent.

"We are going to see nothing but a phase of consolidation, may be for several weeks," said Mike Lenhoff, chief strategist at Brewin Dolphin. (Reporting by Atul Prakash)

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