August 29, 2012 / 7:10 AM / 5 years ago

European shares slip on growth worries

LONDON, Aug 29 (Reuters) - European shares edged lower on Wednesday, led by Bouygues, as traders cited worries over the weak global economic outlook and nervousness ahead of a key gathering of central bankers at Jackson Hole, Wyoming, this week.

The FTSEurofirst 300 index fell 0.1 percent to 1,087.69 points by 0705 GMT. The euro zone’s blue-chip Euro STOXX 50 index was flat at 2442.72 points.

Trading over the past week has been choppy in low volume, as investors weigh up whether the European Central Bank will launch sovereign bond purchases or cut rates in September, and whether the U.S. Federal Reserve will hint at new quantitative easing measures at the Jackson Hole symposium on Friday.

“We’ve got the prospects of further quantitative easing in the United States and a rate cut in Europe, but against that we’ve got a worsening economic outlook, so we’re in limbo for the time being,” said Berkeley Futures Ltd associate director Richard Griffiths.

Leading faller across the region was French firm Bouygues , down 5.2 percent after posting sharply lower first-half profits after the close on Tuesday.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below