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* Oil, real estate stocks among big decliners
* Tech rally continues as U.S. peers rally
* ECB sticks to policy as expected
(Updates to market close)
By Sruthi Shankar and Amal S
Jan 21 (Reuters) - European stocks lost steam heading into
the close on Thursday, weighed down by oil and real estate
shares, while the European Central Bank stuck to its monetary
policy but warned a surge in COVID-19 infections posed a risk to
the euro zone's recovery.
The pan-European STOXX 600 index ended flat after
rising as much as 0.8% earlier in the session.
Energy majors BP, Royal Dutch Shell and
Total each fell more than 2% as oil prices slipped
after industry data showed a surprise increase in U.S. crude
inventories.
The ECB offered few surprises after it kept its policy
unchanged, while its president Christine Lagarde warned that a
new rise in cases and the ensuing restrictions to activity would
dampen activity in the near term and said the ECB was prepared
to provide even more support for the economy if needed.
"Lagarde touched upon the mixed positive and negative
developments but concluded that there were no reasons to change
the broader assessment from the December projections," Carsten
Brzeski, global head of macro at ING, wrote in a note.
Brzeski, however, noted the central bank's projection in
December of 0.6% GDP growth quarter-on-quarter in the first
quarter "is a tad optimistic."
Euro zone stocks came off session highs to close
0.1% lower with the euro strengthening against the dollar, while
euro zone banks slid 0.6%.
European shares rallied to near 11-month highs earlier on
Thursday after as investors bet on major stimulus from new U.S.
President Joe Biden, who signed half a dozen executive orders
including a U.S. return to the international Paris Agreement to
fight climate change.
Shares in wind turbine maker Vestas, renewable
energy group Siemens Gamesa and offshore wind group
Orsted rose between 1.4% and 3.9%.
French shopping centre operators Unibail-Rodamco-Westfield
and Klepierre lost 8.4% and 6.5%,
respectively, dragging down the real estate index by
1.5%.
Tech stocks jumped 1.6% as their U.S. peers rallied,
while British software maker Sage Group jumped 4.9%
after posting higher quarterly recurring revenue.
Spain's Bankinter gained 4.3% as it forecast higher
lending income and loan growth across its markets.
Swiss online pharmacy chain Zur Rose Group AG
climbed 8.9% after it posted full-year revenue above analysts'
expectations.
Britain's IG tumbled almost 9% after it announced
plans to buy U.S. trading platform tastytrade for $1 billion.
(Reporting by Sruthi Shankar and Amal S in Bengaluru; Editing
by Arun Koyyur and Saumyadeb Chakrabarty)
