European shares dip ahead of ECB; Standard Life surges

jueves 4 de septiembre de 2014 04:01 GYT

* FTSEurofirst 300 down 0.1 pct, slips from 2-month high

* Standard Life jumps on news of Canadian unit sale

* Big open interests for calls on euro zone bank index

By Blaise Robinson

PARIS, Sept 4 (Reuters) - European shares dipped in early trading on Thursday, taking a breather from the previous session's sharp gains, as investors waited to see whether the European Central Bank will unveil further immediate measures to avoid deflation.

Shares in Standard Life bucked the trend and surged 8.8 percent after it agreed to sell its Canadian operations for about $3.7 billion to Manulife Financial.

At 0748 GMT, the FTSEurofirst 300 index of top European shares was down 0.1 percent at 1,383.58 points, retreating from the two-month high hit in the previous session. The benchmark index has gained nearly 7 percent since early August.

"Stocks have been retracing the summer correction, but the rally now lacks momentum ahead of the ECB. A lot has been priced in already so risks are on the downside if Draghi disappoints," FXCM analyst Vincent Ganne said.

According to BNP Paribas equity derivative strategists, investor sentiment towards euro zone banks is bullish ahead of the ECB rate decision and press conference at 1230 GMT.   Continuación...