January 10, 2013 / 8:31 AM / 5 years ago

European shares turn negative, ECB eyed

LONDON, Jan 10 (Reuters) - European shares turned negative on Thursday as caution ahead of a policy decision from the European Central Bank later in the session offset optimism following further evidence of improving economic conditions in China.

The FTSEurofirst 300 was down 0.1 percent at 1,167.27 by 0821 GMT, retreating after the previous session’s 0.7 percent advance.

Investors were looking ahead to the ECB’s interest rate decision, due at 1245 GMT, with a news conference from ECB President Mario Draghi at 1330 GMT.

“With the potential for a banana skin from the ECB later today, private investors may see this as an opportunity to book some early profits,” Mike McCudden, head of derivatives at Interactive Investor said. (Reporting by Tricia Wright; Editing by Toni Vorobyova)

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