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* Trade war, U.S. rates worry investors
* STOXX 600 flat
* Markets shrug off banking stress tests
* Goldman Sachs (NYSE: GS ) note weighs on Italian lenders
By Julien Ponthus
LONDON, Nov 5 (Reuters) - European shares were little changed in choppy trade on Monday, as a four-day rally ran out of steam after investor nervousness over fast-rising U.S. interest rates and Washington's trade dispute with Beijing hit Asian markets.
The pan-European STOXX 600 .STOXX was flat by 0936 GMT, with most country indexes also hovering around neutral.
Tuesday's U.S. mid-term elections also kept traders cautious, as did uncertainty over whether renewed hopes of a breakthrough in Brexit negotiations were misplaced.
Results from the European banking stress tests had little impact, with the sector .SX7P down 0.3 percent.
"The results provide no surprises and we expect little market reaction", Jefferies analysts wrote.
The Italian banking index .FTIT8300 lost 1.7 percent, however, after Goldman Sachs downgraded BPER and Intesa Sanpaolo (MI: ISP ) to "sell". Their shares were down 3.3 percent and 1.9 percent, respectively.
Lloyd's of London underwriter Hiscox posted the worst performance, falling 7.4 percent after warning that growth could moderate over the rest of the year.
Among positive trading updates was Dutch oil and gas storage firm Vopak VOPA.AS , up 5 percent, and Siemens (NS: SIEM ) Healthineers, which rose 3 percent after forecasting higher earnings for next year.
French payments group Ingenico INGC.PA! , which has attracted bid interest from banking company Natixis CNAT.PA , jumped 3.6 percent after it named a new chief executive on Monday, on hopes that a new board could strike a deal.
Britain's Micro Focus MCRO.L was up 3.3 percent after it said it expected full-year revenue to come in towards the higher end of a weak outlook and announced the departure of its finance director for ITV (LON: ITV ) after less than 12 months.
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