European shares retreated further from five-month highs on Thursday before a Eur...
MILAN - European shares retreated further from five-month highs on Thursday before a European Central Bank meeting that is expected to slash growth forecasts and hint at a new round of ultra-cheap loans for euro zone banks.
Euro zone banks fell 0.4 percent on profit taking after gains made in anticipation of the ECB scheme and as investors awaited for details on the loans that could prop up lending and help banks roll over a previous facility. Italian banks, which used the biggest share of the previous round of central bank loans, edged up but remained below the highs hit in the previous session.
German carmakers Daimler and BMW fell 2.2 and 1.4 percent following a downgrade from Bankhaus Lampe to hold and sell respectively.
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