European stocks flatten out, eyes on Brexit, Fed
19/03/2019 at 08:23
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March 19 (Reuters) - European shares opened flat to marginally
higher on Tuesday, as investors made cautious moves ahead of a U.S.
Federal Reserve meeting while British Prime Minister Theresa May's
third attempt to get a Brexit deal through parliament was blocked for now.
The pan-European STOXX 600 index rose 0.1 percent by 0806 GMT
after four sessions of solid gains, while Germany's DAX index was
less than 0.05 percent higher and London's FTSE dipped 0.1 percent.
The Fed's two-day meeting starts on Tuesday, with financial
markets expecting the U.S. central bank to reinforce a dovish approach
to any further rises in interest rates.
Rate-sensitive bank stocks dipped 0.2 percent, after jumping
more than a full percentage point in value on Monday following
confirmation of merger talks between Deutsche Bank
and Commerzbank .
Scandal-hit Danske Bank fell over 5 percent, the most on the
STOXX 600, after shareholders voted against a proposal to break up the
British leader May's Brexit plans were thrown into turmoil on
Monday when the speaker of parliament ruled that she could not put her
divorce deal to a new vote unless it was re-submitted in a
fundamentally different form.
Brexit Secretary Steve Barclay said on Tuesday that the decision
meant there would be no vote this week.
British online supermarket Ocado overturned expectations of an
initial fall to rise almost 3 percent as strong first quarter sales
numbers outweighed the fallout of a fire last month at its flagship
robotic distribution centre.
German specialty chemicals maker Wacker Chemie dropped 2.3
percent after projecting "significantly" lower net income in
2019 compared with a year earlier.
France's telecoms operator Iliad dropped more than 2 percent
after the company cut its cash-flow target for 2020 in France and
added it was considering selling part of its mobile assets.
(Reporting by Sruthi Shankar and Agamoni Ghosh in Bengaluru; Editing
by Catherine Evans)
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