European shares steady; all eyes on ECB

miércoles 4 de junio de 2014 04:06 GYT
 

* FTSEurofirst 300 flat, Euro STOXX 50 down 0.03 pct

* Wait-and-see mode ahead of ECB meeting

* New ECB measures seen as priced in already

By Blaise Robinson

PARIS, June 4 (Reuters) - European shares were steady in early trade on Wednesday ahead of key macro data for the euro zone as well as expected measures from the European Central Bank to support the region's economic recovery.

At 0737 GMT, the FTSEurofirst 300 index of top European shares was flat at 1,374.60 points, hovering below a 6-1/2-year high hit on Monday.

"Indexes are stalled in Europe. Low volumes, no selling pressure, and buyers are in a wait-and-see mode," Aurel BGC chartist Gerard Sagnier said.

Investors awaited an updated figure for the euro zone's first-quarter GDP, as well as service PMIs, which could shed light on the European Central Bank's next move.

At its meeting on Thursday, the ECB is widely expected to trim its refinancing rate, send its deposit rate into negative territory and launch a long-term refinancing operation (LTRO) targeted at businesses.   Continuación...