European shares lower on U.S. rate hike expectations, Alstom up
* Pan-European STOXX 600 down 0.3 pct
* Stada drops as shares go ex-dividend
* Alstom boosted by high speed train deal (ADVISORY- Follow European and UK stock markets in real time on the Reuters Live Markets blog on Eikon - see cpurl://apps.cp./cms/?pageId=livemarkets) Adds details, share prices)
By Danilo Masoni
MILAN, Aug 29 (Reuters) - European shares fell on Monday as top Federal Reserve officials bolstered expectations for a U.S. rate hike this year, while Alstom bucked the weaker trend after a contract win.
The pan-European STOXX 600 index fell 0.3 percent, giving back gains seen in the previous session, while a holiday closure of UK markets was expected to keep activity low.
At the Fed's annual gathering for global central bankers on Friday, Fed Chair Janet Yellen said the case for a rate hike had strengthened, but while she gave no hints of timing, Fed Vice Chair Stanley Fischer said later her speech was consistent with expectations for possible rate increases this year.
Investors said Friday's U.S. jobs report was now in strong focus for any more clue about whether the next U.S. rate hike could come as early as September. Futures price in a 33 percent chance of a September hike, up from 18 percent last week.
"The U.S. non-farm payrolls report should deliver the final indicator for the market as to whether it has correctly priced in the probability of a September rate hike," analysts at BayernLB said in a note. Continuación...