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European shares fell in early trading and were set for their biggest weekly loss since before Donald Trump won the US presidential election in November as investors steered clear of adding risk to portfolios ahead his inauguration.
The STOXX 600 was down 0.2 per cent by 0826 GMT and set for a weekly loss of more than 1 per cent.
The pan-European index has gained nearly 10 per cent over the last two months but has come off from its early January peak on concerns Trump may struggle to deliver on his stimulus promises. UK’s FTSE was down 0.1 per cent.
“Trump’s aggressive fiscal stimulus plans have been priced in by the markets to an extent where investors could now sit back and watch how fast his promises will be concretised,’’ London Capital Group analyst Ipek Ozkardeskaya said.
Among top fallers was French voucher and prepaid card provider Edenred , which fell 2.8 per cent after major shareholder Colony Capital sold its entire 11.2 per cent stake in the company.
Danish insurer Tryg was the biggest STOXX loser, down 4.1 per cent after its fourth-quarter profit missed expectations.
Europe’s STOXX Basic Resources index fell 1.2 per cent, the biggest sectoral loser in Europe, as copper prices weakened.
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