European shares slip as investors take profits

European shares fell early on Tuesday, as investors pointed to profit taking following the previous session's strong gains when the FTSEurofirst 300 closed at its highest level in nearly five months.

At 0712 GMT, the FTSEurofirst 300 index of top European shares was down 0.2 percent at 884.34 points.

"For this morning it is a realistic assumption that investors take some money off the table due to the massive increases yesterday," Roger Peeters, strategist at Close Brothers Seydler, wrote in a note.

Banks took most points off the FTSEurofirst 300 index, and the DJ Stoxx Banks Index was the top sectoral decliner, down 1.8 percent.

Deutsche Bank, Societe Generale, Banco Santander and Royal Bank of Scotland all fell between 0.8 and 2.7 percent.

Mining stocks also fell, with Rio Tinto, Anglo American and BHP Billiton down 1.6 to 2.1 percent.

Across Europe, Britain's FTSE 100 was down 0.9 percent, Germany's DAX was down 0.3 percent and France's CAC was down 0.5 percent.

On Monday, the index had closed up 2.8 percent at 886.27 points, its highest level since Jan. 6, boosted by data from the United States and Chin that sparked optimism regarding an economic recovery.