European shares start lower in cautious trade

European shares start lower in cautious trade

On Wednesday, European stocks started lower because traders were still cautious ahead of Thursday’s British election and also the ECB’s policy decision.

Germany’s DAX 30 sank 0.26%, the EURO STOXX 50 dipped 0.13% and France’s CAC 40 tumbled 0.15%.

Hopes are surging that the ECB could keep to a less dovish tone at its gathering on Thursday after recent economic data indicated that the revival in the common currency is deepening.

Investors were also looking forward to the first round of French parliamentary elections on Sunday. According to the latest surveys, the party of President Emmanuel Macron is set to grasp the greatest parliamentary majority since 1968.

Financial stocks were mostly lower. It’s because French lenders Societe Generale along with BNP Paribas moved down respectively 0.08% and 0.13%. Germany’s Deutsche Bank headed south 0.41%.

The FTSE 100 sank 0.14% in London, suppressed by losses in the mining sector.

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