European shares partly recover on Draghi comments

jueves 12 de noviembre de 2015 05:37 GYT
 

* FTSEurofirst 300 down 0.3 pct after choppy trading

* Draghi's comments on inflation raise stimulus hopes

* Rolls-Royce slumps after another profit warning

By Atul Prakash

LONDON, Nov 12 (Reuters) - European shares partly recovered on Thursday after European Central Bank President Mario Draghi said indications that inflation will recover are weakening and it will have another look at its monetary policy when its council meets in December.

In a prepared speech due to be delivered on Thursday, Draghi the bank would closely monitor the risks to price stability and assess the strength and persistence of the factors that were slowing the return of inflation to levels below, but close to, 2 percent.

"It is highly likely that the ECB will deliver something in December," said Gerhard Schwarz, head of equity strategy at Baader Bank in Munich.

"But investors will be more in a wait-and-see attitude over the next couple of weeks because it is still a very shaky environment when it comes to the expectations for the economic outlook. The conviction to have a better growth backdrop going forward is still rather low."

In choppy trading, the pan-European FTSEurofirst 300 index turned positive after early losses, but then gave up its gains again. It was down 0.3 percent at 1,489.60 points by 0921 GMT, after falling to an intra-day low of 1,482.92 following disappointing updates from some companies.   Continuación...