European stocks have reversed morning gains and in the red ahead of the Wall Street open. Persimmon is underperforming on the much weaker than expected UK Nationwide house price data. France Telecom is leading CAC-40 lower. CAC-40 is 8pts lower (-0.17%), Xetra-DAX is down 3pts (-0.05%) and FTSE-100 is down 15pts (-0.24%).