European shares inch higher on media rally after ECB disappointment [Reuters]
VIVENDI SE UNSP/ADR (VIVHY)
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Source: Reuters
European shares inch higher on media rally after ECB disappointment (Reuters) - European shares inched higher on Friday, pushed up by a rally in media stocks, following a drop after the European Central Bank held out the possibility of more easing and a review of its inflation target, disappointing investors. Europe’s media sector .SXMP advanced 1.6% as Vivendi ( VIV.PA Pearson ( PSON.L SESFd.PA The pan-European stock benchmark index rose 0.2% by 0825 GMT, recovering from its worst session in three weeks. On the week, the index is expected to rise 0.7%, improving from last week’s marginal gains. ECB President Mario Draghi on Thursday all but pledged to ease policy further and even hinted at a reinterpretation of the bank’s inflation target. This disappointed some investors who had hoped for an immediate easing of interest rates. The ECB statement dampened investor hopes that immediate central bank action would fend off any slowdown in the global economy, a sentiment that has led Euro
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