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Europe shares trim Monday's gains

Tuesday, August 26 08:44:37

European shares slipped in early trade on Tuesday, trimming the previous session's sharp gains that were fueled by prospects of further stimulus measures from the European Central Bank.

The UK market, shut on Monday for a holiday, gained ground, with the FTSE 100 index up 0.5 percent.

The euro zone's blue-chip Euro STOXX 50 index was down 0.2 percent, at 3,158.64 points, while Germany's DAX index lost 0.3 percent and France's CAC 40 slipped 0.1 percent.

Speaking on Friday at a global central banking conference in Jackson Hole, Wyoming, ECB President Mario Draghi said the central was prepared to respond with all its "available" tools should inflation drop further.

The comments - which have sent the euro to a one-year low against the dollar - have been fueling speculation the ECB could embark on a large-scale asset-buying scheme known as quantitative easing, or QE, to pump cash into the financial system and revive inflation. (Reuters)

For more visit: www.businessworld.ie