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European shares down

Thursday, August 28 09:38:57

European shares retreated from a one-month high on Thursday, with uncertainty regarding the European Central Bank's possible move to ease policy to stimulate growth prompting investors to trade cautiously.

Investors awaited a slew of data releases on both Thursday and Friday for hints about the market's direction in the near term. Speculation of a quantitative easing (QE) program has grown since ECB President Mario Draghi struck a dovish tone at the Jackson Hole meeting last week.

But ECB sources said late on Wednesday the central bank was unlikely to take new policy action next week unless August inflation figures on Friday show the euro zone sinking significantly towards deflation.

Investors were also awaiting preliminary German inflation data due later in the session for hints about how soft the euro zone numbers might turn out. Other data releases include euro zone economic sentiment indicators.

At 0820 GMT, the pan-European FTSEurofirst 300 index was down 0.5 percent at 1,370.47 points after hitting a one-month peak in the previous session. (Reuters)

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