European shares inch higher with eyes on ECB
Reuters
Published Sep 10, 2020 08:27
(Reuters) - European shares edged higher on Thursday, with investors awaiting signs of more stimulus from the European Central Bank in the face of a strong euro, although it is expected to keep its policy unchanged.
The pan-European STOXX 600 (STOXX) index rose just 0.2%, as traders stayed away from making big bets ahead of the policy statement.
Investors will be focussed on commentary from ECB President Christine Lagarde, who will address a surging euro amid an economic recovery losing steam and anaemic inflation expectations.
The rate-sensitive European banks sector index (SX7P) was down 0.2%, while travel and leisure stocks (SXTP) bounced 0.7% following steep declines in the previous session.
Norway's Equinor (OL:EQNR) rose 0.9% after it agreed to sell a 50% stake in two U.S. offshore wind power development projects to energy major BP (L:BP) for $1.1 billion. BP shares fell 1.0%.
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Written By: Reuters
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