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European shares inch up; Hermes sinks after LVMH deal
September 3, 2014 / 7:11 AM / 3 years ago

European shares inch up; Hermes sinks after LVMH deal

PARIS, Sept 3 (Reuters) - European shares rose early on Wednesday, but remained stuck in a tight range ahead of the European Central Bank’s policy meeting, with investors split on whether the ECB will unveil immediate stimulus steps to stave off deflation.

Shares in luxury group Hermes slumped 6.9 percent after LVMH, which has a significant stake in Hermes, agreed to distribute all its Hermes shares to its shareholders.

At 0704 GMT, the FTSEurofirst 300 index of top European shares was up 0.3 percent at 1,379.46 points. (Reporting by Blaise Robinson; Editing by Susan Fenton)

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