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Stronger euro puts brake on European shares


LONDON : European shares traded lower on Friday across most exchanges and sectors, failing to get support from subdued sessions in Asia and on Wall Street, and as the euro's rally dims appetite for regional stocks.
At 0830 GMT, the German blue chip DAX index was down 0.2 percent, France's 0.4 percent, London's FTSE  0.3 percent, Milan's FTSE MIB  0.4 percent. The broader pan-European 600 benchmark was down 0.3 percent.
After suffering four straight sessions in the red, European banks were slightly higher, with the sectoral index up 0.3 percent.
The banking sector's lending business benefits from higher interest rates and investors fear the European Central Bank might delay monetary policy tightening if the euro keeps on strengthening against the dollar.
Spain's Banco Santander and Caixbank France's Natixis CNAT.Pa and Britain's Barclays posted the strongest gains, between 1.1 and 1.7 percent.
For Laurent Gaetani, head of Degroof Petercam Gestion, the weakening of some banks' share price presents an opportunity to buy on the dip.
"These are entry points," the French asset manager told Reuters, adding he was "overweight" on the sector.