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European shares inch higher with eyes on ECB

Published 09/10/2020, 03:21 PM
Updated 09/10/2020, 03:30 PM
© Reuters.
BP
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EQNR
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STOXX
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SXTP
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
Sept 10 (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 EQNR.OL rose 0.9% after it agreed to sell
a 50% stake in two U.S. offshore wind power development projects
to energy major BP BP.L for $1.1 billion. BP shares fell 1.0%.

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