|08-27-2014, 03:09 PM||#1|
European shares little changed after downbeat German report
European shares were little changed on Wednesday, after gaining near 2 percent in the previous two sessions, after a report showing German consumer sentiment dropped for the first time in more than 1-1/2 years.
STOXX EUROPE 600 climbed took advantage of ECB Draghi comments he said the bank was prepared to use all available instruments if inflation continued to drift away from the bank’s target.
Hence, eyes will focus euro area CPI estimate for the year through August, where analysts predict to see further drop to 0.3 percent from the previous of 0.4 percent.
Equities failed to continue the rally today amid the absence of economic data from Europe.
On the geopolitical front, despite talks between Russian President Vladimir Putin and his Ukrainian counterpart Petro Poroshenko in the Belarussian capital Minsk, the first since June, the fights in the Eastern boarders continued.
As of 07:11 EST, STOXX EUROPE 600 soared 0.12% to record 343.37 points. Telecommunication Services led the advance with a rise of 0.67%, followed by Financials which recorded 0.30% rise.
The highest shares were for Portugal Tel-Reg as it advanced 4.72% to 1.53 EUR, while the biggest drop was recorded by Seadrill LTD as its shares plummeted 5.66% to 218.400 NOK.
Looking at other the major European indices, the French CAC index edged down 0.11% to 4388.77 levels and Germany`s DAX index slipped 0.12% to 9576.56 points. Britain`s FTSE 100 index recorded 0.09% advance to 6828.82 points.
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