"We've seen a bit of profit taking and investors are reluctant to take new positions"
- Matthias Jasper, head of equities at Wgz Bank
European stocks edged lower for a second day after European Central Bank Governing Council member Jens Weidmann said expansion of the European Financial Stability Facility (EFSF) wouldn't help to solve the debt crisis.
The Stoxx Europe 600 Index declined 1.06 per cent to 264.10. Germany's DAX Index lost 1.13 per cent and France's CAC 40 Index fell 1.14 per cent. The U.K.'s FTSE 100 Index retreated 1.03 per cent to 5,808.99.
"We've seen a bit of profit taking and investors are reluctant to take new positions," said Matthias Jasper, head of equities at Wgz Bank in Dusseldorf, Germany.
"It's not really a game changer, what the politicians say these days. Everybody knows in the financial markets that the crisis hasn't ended yet."
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