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March 4 (Reuters) - European shares struggled for direction
on Wednesday as investors wondered if the European Central Bank
and euro zone governments would green light stimulus measures
after the U.S. Federal Reserve cut interest rates in an
emergency move.
The Fed's rate cut by 50 basis points on Tuesday sent Wall
Street tumbling, magnifying the extent of the coronavirus
fall-out. The pan-European STOXX 600 index rose 0.2%, with gains
capped by dismal data showing China's services sector had its
worst month on record in February. All the main regional indexes were slightly higher, but
Italian shares .FTMIB moved up only 0.1%. Italy's health
authorities said they may set up a new quarantine red zone to
try to contain the outbreak in Europe's worst-hit country, after
the death toll and the number of cases jumped. Traders now see a 90% chance the ECB will cut rates next
week, while policymaker Francois Villeroy de Galhau on Tuesday
called on governments for more fiscal help.
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European shares inch higher as investors weigh stimulus measures
Published 03/04/2020, 04:41 PM
Updated 03/04/2020, 04:48 PM
European shares inch higher as investors weigh stimulus measures
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