* FTSEurofirst 300 down 0.3 pct; falls for fourth session
* Financials, miners feature among top decliners
* Recent disappointing economic data adds to worries
* For up-to-the-minute market news, click on []
By Atul Prakash
LONDON, Sept 24 (Reuters) - European stocks declined for a
fourth straight session on Friday, led lower by miners and banks
as the latest U.S. jobless claims figures added to persistent
concerns that the global economic recovery was still fragile.
At 0814 GMT, the FTSEurofirst 300 <> index of top
European shares was down 0.3 percent at 1,062.94 points after
falling to a low of 1,060.19 earlier in the session.
The index is on track to close the week in negative
territory for a second time in a row and is up just 1.4 percent
this year.
The index pared some losses after data showing German
business sentiment rose unexpectedly in September, but overall
market sentiment stayed bearish. []
Miners topped the list of fallers, with investors selling
shares on concerns that slower economic recovery would hurt
global demand for raw materials. Anglo American <AAL.L>,
Antofagasta <ANTO.L>, Rio Tinto <RIO.L>, Xstrata <XTA.L> and
ENRC <ENRC.L> fell 1.1 to 2.7 percent.
"Yesterday's U.S. jobless figures just added a little fuel
to the fire. Concerns over Ireland are still very much there in
the background," said Keith Bowman, equity analyst at Hargreaves
Lansdown. "Investors are going to remain very data-sensitive.
"Consensus is for a relatively slow growth, but investors
are still trying to piece together some sort of picture for the
outlook. Some caution is still necessary."
Figures showed on Thursday that U.S. jobless claims
unexpectedly rose in the latest week, a sign the labour market
still faces headwinds. Existing-home sales rose in August, but
from depressed levels. []
Investors also became cautious after data showed the Irish
economy, already hit by worries about the cost of bailing out
its banking sector, shrank 1.2 percent in the second quarter,
raising questions whether the government can continue to cut
spending to tackle its debt problem.
Irish debt came under renewed pressure on Friday, sending
their 10-year bond yield spreads over German Bunds to euro
lifetime highs. []
TECHNICAL SUPPORT
The Thomson Reuters Peripheral Eurozone Countries Index
<.TRXFLDPIPU> fell 0.2 percent, while both Germany's DAX
<> and France's CAC 40 <> were down 0.1 percent.
Britain's FTSE 100 <> fell 0.1 percent to 5542.87
points. Analysts said a break of 5,498 would signal a bearish
market trend.
"The bulls are not ready to give up support at 5,500 and
prices are rallying above this level, setting up a range between
5,500 and 5,550," said Raghee Horner, chief market analyst at
Autochartist.
Financial stocks featured among the top losers, with the
STOXX Europe 600 banking index <.SX7P> falling 0.2 percent on
worries that a patchy economic recovery could hurt banks.
Sentiment also worsened on news that Britain's banks will be
subject to a wide-ranging probe that will examine the possible
break-up of retail and investment banks and ways to boost
competition. []
Barclays <BARC.L>, BNP Paribas <BNPP.PA>, Commerzbank
<CBKG.DE> and Allied Irish Banks <ALBK.I> fell 1 to 2.3 percent.
"We could be due a bit of consolidation in the markets at
least until the start of the third quarter earnings season next
month which may prove to be the defining line in how the markets
finish the year," said Joshua Raymond, strategist at City Index.
(Editing by Michael Shields)
