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European equities slipped for a fourth session on Friday to a two-week closing low as financials lost ground on concerns over some banks' exposure to Ukrainian debt, while weaker crude oil prices hurt energy shares.
The FTSEurofirst 300 index of top European shares ended down 0.8 percent at 1,002.95 points, the lowest close since Nov. 6. It fell 1.6 percent during the week after gaining in the previous two weeks.
Banks were among the top losers as speculation over Ukrainian debt resurfaced, even though analysts said there was no fresh development to trigger the sudden fright.
Ukraine's acting Finance Minister Ihor Umansky said last week that the state railway company was seeking to restructure a $550 million syndicated loan organized by Barclays after failing to repay a portion of it.
The DJ Stoxx European banking sector index fell 1.5 percent, while Commerzbank, Swedbank, Societe Generale, Deutsche Bank, Credit Agricole and UBS dropped between 2.3 percent and 3.7 percent.
European Central Bank President Jean-Claude Trichet said at a banking conference that banks risk becoming addicted to cheap central bank cash used to fight the financial crisis and must prepare for its eventual withdrawal.
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