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European shares dip as investors eye PMI data, ECB meeting

Published 01/20/2020, 04:15 PM
Updated 01/20/2020, 04:16 PM
European shares dip as investors eye PMI data, ECB meeting
INTUP
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STOXX
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SXEP
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DAX
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
Jan 20 (Reuters) - European shares dipped slightly on Monday
after striking a record closing high in the previous session, as
investors paused before launching into a week packed with
economic data and the European Central Bank's first policy
meeting of the year.
The pan-European STOXX 600 index .STOXX was down about
0.1%, after gaining nearly 1% on Friday on optimism around
U.S.-EU trade talks to address long-standing issues such as a
French digital tax and aircraft subsidies.
German shares .DAX lost 0.2%, as data showed producer
prices in the euro zone's biggest economy fell 0.2% year-on-year
in December 2019, compared with a 2.7% gain a year earlier.
Investors are now awaiting readings of the Purchasing
Manager's Index from Germany, France and the euro zone on
Friday, and the ECB's monetary policy meeting on Thursday, where
it is expected to keep the deposit rate unchanged at -0.50%.
Shares of oil and gas companies .SXEP led gains among the
major European subsectors, tracking a rise in oil prices after
two large crude production bases in Libya began shutting down.
O/R
Among individual movers, British shopping centre operator
Intu Properties INTUP.L tumbled 7.1% after saying it was
targeting an equity raise by the end of February to tackle debt.

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