LONDON: European shares edged lower in early trade on Thursday, Oct 7, giving up a little of the previous two sessions' gains, and ahead of interest rate decisions and policy indications from the Bank of England and European Central Bank.
At 0708 GMT, the FTSEurofirst 300 index of top European shares was down 0.3 percent at 1,067.95 points, after rising 0.5 percent in the previous session.
Later in the session, the BoE and the ECB are both expected to say they are keeping interest rates at record low levels, of 0.5 and 1 percent respectively.
"We're not expecting the Bank of England to do anything concrete today. The markets have been pushed up on the expectations of QE (quantitative easing), but that's generally U.S. QE. People expect the Fed to do more QE next month," said Philip Isherwood , European equities strategist at Evolution Securities.
Miners gave up some gains from the previous session, though gold hit another record high, and copper remained near recent highs. Antofagasta, Kazakhmys and Vedanta fell between 0.9 and 2.6 percent.
Renault soared 7.3 percent after the French carmaker announced the sale of a large part of its 21.7 percent stake in Swedish truck maker Volvo. Volvo shares fell 3.3 percent. - Reuters
At 0708 GMT, the FTSEurofirst 300 index of top European shares was down 0.3 percent at 1,067.95 points, after rising 0.5 percent in the previous session.
Later in the session, the BoE and the ECB are both expected to say they are keeping interest rates at record low levels, of 0.5 and 1 percent respectively.
"We're not expecting the Bank of England to do anything concrete today. The markets have been pushed up on the expectations of QE (quantitative easing), but that's generally U.S. QE. People expect the Fed to do more QE next month," said Philip Isherwood , European equities strategist at Evolution Securities.
Miners gave up some gains from the previous session, though gold hit another record high, and copper remained near recent highs. Antofagasta, Kazakhmys and Vedanta fell between 0.9 and 2.6 percent.
Renault soared 7.3 percent after the French carmaker announced the sale of a large part of its 21.7 percent stake in Swedish truck maker Volvo. Volvo shares fell 3.3 percent. - Reuters
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