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Europe stocks fall led by utilities, energy, mining
FRANKFURT, July 3 - European equities fell on Friday, recording their third straight week of losses, led by utilities, oil & gas and basic resources shares, while banks and media pulled in the opposite direction.
Volumes were thin with U.S. financial markets closed for the Independence Day holiday.
The pan-European FTSEurofirst 300 <.FTEU3> index of top shares unofficially closed 0.3 percent lower at 840.83 points.
The benchmark index lost 0.4 percent over the week and has fallen 5.3 percent since its five-month high close on June 11.
Utilities took most points off the index on Friday. EDF <EDF.PA> fell 4.5 percent after a downgrade, E.ON <EONGn.DE> dropped 1.2 percent and GDF Suez <GSZ.PA> lost 0.6 percent.
Weaker commodity prices weighed on oil & gas and basic resources stocks, such as Royal Dutch Shell <RDSa.L>, down 0.7 percent, and ArcelorMittal <ISPA.AS>, which closed 1 percent lower.
Banks added most points, with Barclays <BARC.L> up 2.8 percent, Banco Santander <SAN.MC> gaining 2.2 percent, BNP Paribas <BNPP.PA> adding 2 percent, HSBC <HSBA.L> rising 1.7 percent and Deutsche Bank <DBKGn.DE> putting on 1.7 percent.
Media stocks rose after Credit Suisse upgraded the sector to "overweight" from "underweight". The DJ Stoxx sector index <.SXMP> rose 0.5 percent,
Wolters Kluwer <WLSNc.AS> jumped 4.3 percent and Reed Elsevier <REL.L> climbed 3.9 percent.
London's FTSE 100 <.FTSE> index rose 0.1 percent, the German DAX <.GDAXI> lost 0.2 percent and the French CAC 40 <.FCHI> edged up 0.1 percent.
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