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Consumer Cyclical Stocks Pressure Euro Markets

European shares fell from multi-year highs on Wednesday, with luxury goods stocks among the worst performers, as some investors sold in anticipation of a near-term pull-back in the market.Federal Reserve chief Ben Bernanke is due to speak later in the day and the U.S. central bank is also due to release minutes of its May policy meeting. Investors are concerned that the Fed will start scaling back monetary stimulus measures which have helped drive this year's steep rally in world stock markets.The pan-European FTSEurofirst 300 index, which has hit five-year highs this month, fell 0.6 percent to 1,245.62 points mid-session, while the euro zone's blue-chip Euro STOXX 50 index declined 0.5 percent to 2,806.90 points.Interest rate cuts and liquidity injections by central banks have hit returns on bonds and cash, driving investors to seek the better returns available on stocks, but some are now booking profits in expectation of a near-term retreat in prices.Darren Courtney-Cook, head of tra...

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  1. LONDON MARKETS: U.K. Stocks Drop From 13-year High

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  5. LONDON MARKETS: U.K. Stocks Extend Gains To 12-month High

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