European shares steady ahead of ECB; Remy drops

jueves 5 de junio de 2014 03:14 GYT
 

PARIS, June 5 (Reuters) - European shares were steady early on Thursday, with indexes hovering below recent multi-year peaks ahead of a European Central Bank meeting that is expected to yield fresh measures to spur euro-zone growth.

At 0709 GMT, the FTSEurofirst 300 index of top European shares was up 0.06 percent at 1,375.72 points, hovering just below a 6-1/2 year high hit earlier this week.

At its meeting on Thursday, the ECB is expected to impose negative interest rates on its overnight depositors, seeking to prompt banks to lend instead and to prevent the region from slipping into Japan-like deflation, and launch a long-term refinancing operation (LTRO) targeted at businesses.

Shares in Remy Cointreau featured among the top losers, down 2.4 percent after the French spirits group said it would slash its dividend as its annual operating profit fell sharply, hit by a Chinese government crackdown on corruption that has sapped demand for premium cognac.

Meanwhile, Deutsche Bank shares ticked down 0.1 percent after the German bank's plans for an 8 billion-euro ($11 billion) capital hike came to an abrupt halt on Wednesday when a procedural bottleneck in a German court forced it to delay the issue by several days. (Reporting by Blaise Robinson; Editing by Lionel Laurent)