European shares halt slide as Draghi pledges continued support
LONDON, Sept 24 (Reuters) - European shares halted a two-day slide on Wednesday, helped by supportive comments by the European Central Bank's President, although the mood remained cautious ahead of a key German sentiment survey.
Speaking in a French radio interview, ECB's President Mario Draghi said euro zone monetary policy would remain accommodative for a long period and that the goal was to push ultra-low inflation back up closer to the two percent level.
At 0704 GMT, the pan-European FTSEurofirst 300 index was up 0.1 percent at 1,376.59 points, having shed nearly 2 percent over the previous two days.
Following a raft of worse-than-expected economic data from euro zone countries, including German and French business surveys on the previous day, investors braced for more disappointment when Germany's Ifo business morale index is published at 0800 GMT.
The Ifo business climate index was expected to have fallen to 105.7 points in September from 106.3 points in the previous month.
"I think everybody will be careful as there is a real risk of disappointment," Mike Reuter, a broker at Tradition, said. (Reporting By Francesco Canepa, editing by Tricia Wright)
© Thomson Reuters 2017 All rights reserved.