European shares flat with market focus on ECB policy decision [Reuters]
SOCIETE GENL FRNCE S/ADR (SCGLY)
NASDAQ:AMEX Investor Relations:
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Source: Reuters
European Central Bank and remarks by president Christine Lagarde on the outlook for interest rate cuts. The pan-European STOXX 600 (.STOXX) New Tab , opens new tab was flat, as of 0720 GMT, with a 1.3% drop in the telecommunications sector (.SXKP) New Tab , opens new tab All eyes will be on ECB's decision due at 1215 GMT, where the central bank is likely to stand pat on interest rates, but focus will be on any hints that a rate cut could be delivered in June, given easing price pressures and economic weakness. Rate-sensitive sectors such as real estate (.SX86P) New Tab , opens new tab inched 0.2% higher, while financials (.SXFP) New Tab , opens new tab dipped 0.1%. Among top movers, shares of Societe Generale (SOGN.PA) New Tab , opens new tab rose 3.4% after the French lender said it has agreed to sell a professional equipment financing business to rival BPCE for 1.1 billion euros ($1.18 billion), as part of a wider divestment strategy. Get a look at the day ahead
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