European shares steady ahead of ECB meeting [Reuters]
ALSTOM UNSP/ADR (ALSMY)
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Source: Reuters
European shares steady ahead of ECB meeting (Reuters) - European shares were steady on Thursday after hitting a six-week high earlier in the session on further signs of detente between the United States and China over trade. Focus was on the European Central Bank’s monetary policy decision due at 1145 GMT, with investors widely expecting another round of stimulus to prop up an ailing euro zone economy. The pan-European stock index was flat at 0830 GMT after rising to a six-week high in early trading. That rally was led by commodity-linked stocks .SXPP and luxury goods .SXQP, which derive most of their demand from China. After Beijing decided to exempt some U.S. goods from additional tariffs on Wednesday, Washington reciprocated by announcing a short delay to scheduled tariff increases on billions worth of Chinese goods. Optimism about a de-escalation in the economically damaging Sino-U.S. trade war and expectations of monetary stimulus from the ECB have led major European indices to
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