European shares retreat as Erste leads down bank stocks

European shares fell on
Wednesday, pulling back after 2 straight days of gains, as a.
drop in Austrian bank Erste knocked back financial.
stocks. The pan-European STOXX 600 and FTSEurofirst 300.
indexes both fell 0.4 percent, after having actually increased for.
the last 2 days.

Erste fell 3.9 percent, after insurer Uniqa said.
late on Tuesday that it would offer around 17.4 million Erste.

The shares of payment systems company Ingenico.
likewise fell 4.8 percent, affected by a slump in its competing VeriFone.
after VeriFone posted lower-than-expected revenues.

Nevertheless, Sainsbury increased 2.6 percent after the.
British supermarket operator’s first-quarter sales beat market.
projections, despite the fact that Sainsbury warned that it anticipated market.
conditions to continue to be difficult.

( Reporting by Sudip Kar-Gupta; Modifying by Atul Prakash).

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