Friday July 3, 05:04 PM
Europe stocks fall led by utilities, energy, mining
FRANKFURT, July 3 (Reuters) - European equities fell on Friday, recording their third straight week of losses, led by utilities, oil & gas and basic resources shares, while banks and media pulled in the opposite direction.
Volumes were thin with U.S. financial markets closed for the Independence Day holiday.
The pan-European FTSEurofirst 300 index of top shares unofficially closed 0.3 percent lower at 840.83 points.
The benchmark index lost 0.4 percent over the week and has fallen 5.3 percent since its five-month high close on June 11.
Utilities took most points off the index on Friday. EDF (Paris: FR0010242511 - news) fell 4.5 percent after a downgrade, E.ON dropped 1.2 percent and GDF Suez (Paris: FR0010208488 - news) lost 0.6 percent.
Weaker commodity prices weighed on oil & gas and basic resources stocks, such as Royal Dutch Shell (Amsterdam: RDSA.AS - news) , down 0.7 percent, and ArcelorMittal (Amsterdam: NSCNL0001MT7.AS - news) , which closed 1 percent lower.
Banks added most points, with Barclays (LSE: BARC.L - news) up 2.8 percent, Banco Santander (Madrid: BSCH.MC - news) gaining 2.2 percent, BNP Paribas (Paris: FR0000131104 - news) adding 2 percent, HSBC (LSE: HSBA.L - news) rising 1.7 percent and Deutsche Bank (Xetra: 514000 - news) putting on 1.7 percent.
Media stocks rose after Credit Suisse upgraded the sector to 'overweight' from 'underweight'. The DJ Stoxx sector index rose 0.5 percent,
Wolters Kluwer (Amsterdam: WKL.AS - news) jumped 4.3 percent and Reed Elsevier (Amsterdam: 273044.AS - news) climbed 3.9 percent.
London's FTSE 100 index rose 0.1 percent, the German DAX lost 0.2 percent and the French CAC 40 edged up 0.1 percent.
(Reporting by Peter Starck) Keywords: MARKETS EUROPE STOCKS/CLOSE
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