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European shares steady after steep sell-off

Reuters - UK Focus
Updated

(For a live blog on European stocks, type LIVE/ in an Eikon news window)

Aug 15 (Reuters) - European shares edged higher on Thursday, after a brutal sell-off was fueled by global recessionary fears, but investors were hoping central banks would step in to ease monetary policy and soothe markets.

The pan-European STOXX 600 index rose 0.2% by 0710 GMT, gaining some ground after dropping to near six-month lows hit in the previous session.

London's FTSE 100 index was the only major index in the red with oil majors leading declines as crude prices slumped.

In earnings news, strong numbers from beer maker Carlsberg and shipping group A.P. Moller-Maersk pushed shares of both Danish companies higher.

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Drillisch and United Internet slid lower, after the German telecom firms cut their profit outlook.

Markets in Italy, Austria and Greece were shut for a public holiday. (Reporting by Agamoni Ghosh and Shreyashi Sanyal in Bengaluru; Editing by Bernard Orr)