European shares retreated at Monday's closing on profit taking after a two-week rally pushed the Stoxx Europe 600 Index to a six-year high. Also, a report released today from China showed that the pace of growth eased in the last quarter of 2013 to 7.7 percent from 7.8 percent recorded three month earlier. Markets lacked fundamentals from Europe and U.S., noting that markets are closed in the United States due to Martin Luther King Day holiday. As of 06:51 EST , STOXX EUROPE 600 plummeted 0.10% to record 335.50 points, while STXE 50 index slipped 0.03% to 3153.17 levels. Financials led the decline, where the largest drop came was reported by Peugot with 11.11% fall to 10.21 euros , while the biggest gains were recorded by Polyus which gained 6.17 percent to 198.00 pounds. Looking at the major European indices, the French CAC index fell 0.11% to 4322.86 levels. Germany`s DAX index plunged 0.28% to 9715.90 points, Deutsche Bank where contributed largely to the losses with 5.41% drop to 37.21 euro . Fresenius, on the flip side, recorded 54.00 euro after adding 1.33%. Deutsche Bank AG posted an unexpected fourth-quarter loss on high legal charges costs and accounting charges. Europe's largest investment bank in terms of revenue reported a pretax loss of 1.15 billion euros from a loss of 3.17 billion euros in the same period a year earlier. Analysts had penciled in a 628.5 million-euro pretax profit. However, Britain`s FTSE index added 0.11% to 6836.73 points; the advance was led by Fresnilo shares which rose 6.08% to 776.50 pounds, while the Barclays showed the largest drop with 2.01% rise to 282.80 pounds.
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