Europe shares inch up as DAX enjoys longest winning run in 18 mths

miércoles 26 de noviembre de 2014 11:57 GYT

* FTSEurofirst 300 up 0.1 pct, moving in tight range

* DAX up for 10th consecutive session

* Seadrill sinks 17 pct after scrapping dividend

By Blaise Robinson

PARIS, Nov 26 (Reuters) - European shares inched higher on Wednesday, with Germany's blue chip DAX index advancing for the 10th straight session as investors bet on further monetary stimulus from the European Central Bank.

ECB Vice President Vitor Constancio said on Wednesday the bank might decide as early as the first quarter of next year whether to begin buying sovereign bonds.

Gains in stocks were capped by a renewed drop in shares of oil services companies, however, with Norwegian offshore driller Seadrill sinking 17 percent.

The firm scrapped its dividend on Wednesday, becoming the latest oil services group to suspend its payout as the sector struggles with a slump in crude prices that is forcing oil majors to slash capital expenditure.

Shares in rival Fugro fell 3.1 percent, PGS shed 2.9 percent and Afren slid 2.4 percent. Oil services stocks are among the favourite targets of hedge fund short sellers, according to data from Markit.   Continuación...