European shares flat after three days of losses

martes 13 de septiembre de 2016 04:40 GYT
 

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* STOXX 600 recovers slightly after Fed official comments

* Partners Group rises to record high after H1 results

* STOXX 600 still down around 6 pct in 2016

LONDON, Sept 13 (Reuters) - European shares traded flat on Tuesday after a three-day losing streak, as dovish comments from U.S. Federal Reserve official Lael Brainard lent some support to equity markets.

Brainard said on Monday that the Fed should avoid removing support for the U.S economy too quickly, which led traders to trim bets on the likelihood of a September U.S. rate hike.

Expectations of such a rate-hike had caused the pan-European STOXX 600 index to fall in the last three sessions, but Brainard's comments helped it recover slightly to trade flat. The STOXX 600 remains down by around 6 percent so far in 2016.

Shares in Swiss investment management company Partners Group surged 10 percent to a record high after posting higher interim profits, although British online grocer Ocado fell 12.9 percent after warning of margin pressure.

"This rebound looks weak to me, and lacking in conviction. The economic environment in Europe is still not that good," said Terry Torrison, managing director at Monaco-based McLaren Securities.   Continuación...