European shares ended lower after hitting 28-month highs on Wednesday, as disappointing figures from Goldman Sachs and a fall in US housing starts hurt sentiment and prompted some investors to take profits. But analysts said the overall market trend remained positive and equities will soon bounce back, boosted by broadly encouraging company results and an improving macroeconomic outlook.
The FTSEurofirst 300 index of top European shares ended 1.3 percent lower at 1,152.48 points, the lowest close in a week, after hitting 1,170, the highest since September 2008.
Miners featured among the top losers, tracking losses in key metals that fell on US economic data. The STOXX Europe 600 Basic Materials index dropped 2.6 percent, while Anglo American dropped 3 percent. Greek shares jumped 4.5 percent, while the Athens stock exchange's banking index gained 5.8 percent. Technical indicators showed that the stock market could suffer further losses.
The eurozone's blue chip Euro STOXX 50 index - which had jumped 7 percent in six sessions - was down 0.7 percent at 2,923.76. Dutch electronic chip-making equipment group ASML Holding fell 6.8 percent as investors took profits from gains of more than 50 percent since September. The shares rose earlier in the day after ASML said profits hit a record 1.02 billion euros ($1.37 billion) last year.