European shares drop with ECB minutes on deck
On Thursday, European stocks were seeking firm direction, as airline shares sagged after a revenue warning from EasyJet PLC, while bank stocks were holding to higher ground.
The Stoxx Europe 600 dived 0.1%, trading at 343.89, rebounding after soaring as much as 0.4% as trading got underway. On Wednesday, the index went down 0.6%, thus demonstrating the first loss for seven sessions, reacting to a Bloomberg report that the ECB was considering winding down monthly bond purchases before March.
The ECB has already denied that discussions about early tapering had actually occurred.
The previous month ECB President Mario Draghi told that the EU’s number one financial institution will review bond buying in order to make sure there’s enough debt to purchase.
EasyJet shares dropped 6.4% after the budget airline supposed its full-year gain could sink as much as 29% due to slowing bookings.
Other airline stocks struggled after EasyJet’s shocking warning. For instance, Ryanair Holdings PLC lost 2.1%, British Airway’s parent International Consolidated Airlines Group PLC edged down 1.8%. Meanwhile, Air France-KLM SA dipped 1.7%, while Deutsche Lufthansa AG decreased 1.2%.