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European shares swung from gains and losses as the market anticipate the European Central Bank meeting on Thursday.
The Euro Stoxx 600 Index inched down less the 0.1% to 343.19 at 9:30 am, London time. UK’s FTSE 100 shed 0.52% or 34.50 points to 6,588.22. Germany’s DAX Index rose by 0.13% or 11.98 points to 9,486.04 while France’s CAC 40 Index fell by 0.42% or 18.44 points to 4,397.80. Spain’s IBEX 35 Idx climbed by 0.17% or 18.10 points to 10,844.20.
Germany’s Adidas surged by 3.6% bolstering the DAX. In UK J Sainsbury retreated by 0.5%.
Greek shares advanced with the ASE Index leading the rally in western Europe by adding 3.6% following announcements of a 1.5 billion euros worth of shares will be returned to shareholders.
The European Central Bank Meeting will be held on Thursday. Investors are concerned as uncertainty as to what ECB President Mario Draghi will do about rates. On Tuesday, Inflation data was released, showing the consumer growth didn’t do as well as had been predicted.
