Advertisement
UK markets closed
  • FTSE 100

    7,895.85
    +18.80 (+0.24%)
     
  • FTSE 250

    19,391.30
    -59.37 (-0.31%)
     
  • AIM

    745.67
    +0.38 (+0.05%)
     
  • GBP/EUR

    1.1607
    -0.0076 (-0.65%)
     
  • GBP/USD

    1.2370
    -0.0068 (-0.55%)
     
  • Bitcoin GBP

    51,426.77
    -864.25 (-1.65%)
     
  • CMC Crypto 200

    1,371.97
    +59.34 (+4.52%)
     
  • S&P 500

    4,967.23
    -43.89 (-0.88%)
     
  • DOW

    37,986.40
    +211.02 (+0.56%)
     
  • CRUDE OIL

    83.24
    +0.51 (+0.62%)
     
  • GOLD FUTURES

    2,406.70
    +8.70 (+0.36%)
     
  • NIKKEI 225

    37,068.35
    -1,011.35 (-2.66%)
     
  • HANG SENG

    16,224.14
    -161.73 (-0.99%)
     
  • DAX

    17,737.36
    -100.04 (-0.56%)
     
  • CAC 40

    8,022.41
    -0.85 (-0.01%)
     

Gains in insurers keep European stocks steady before ECB

* Aviva (Other OTC: AIVAF - news) , Hannover Re among top gainers after results

* Lagardere (Paris: FR0000130213 - news) slumps

* Expectations of more easing from ECB later

By Sudip Kar-Gupta

LONDON, March 10 (Reuters) - European shares were steady on Thursday, helped by gains in insurers such as Aviva and Hannover Re, while expectations of more stimulus measures from the European Central Bank also supported equities.

The pan-European FTSEurofirst 300 index and the euro zone's blue-chip Euro STOXX 50 index both rose by 0.1 percent.

The ECB is set to unveil its second stimulus cocktail in three months on Thursday, spurred by fears that low energy costs are feeding into wages and prices, potentially perpetuating ultra-low inflation.

ADVERTISEMENT

The euro zone's central bank is widely expected to cut its deposit rate deeper into negative territory and adjust its 1.5 trillion euro asset-buying scheme, hoping to boost prices after inflation dipped back into negative territory last month.

Prospects of more action from the ECB put the euro under pressure on currency markets, and this in turn helped European stocks, since a weaker euro makes European companies' exports more affordable overseas.

"The weak euro is positive for equities," said Hantec Markets' analyst Richard Perry.

British insurer Aviva rose 5 percent after posting higher profits and dividends, while reinsurer Hannover Re also climbed after it increased its total dividend and its net profit surpassed the billion-euro mark for the first time.

However, Lagardere shares slumped after results from the media group underwhelmed investors, while fertiliser group K+S (Other OTC: UBGXF - news) also fell 4.9 percent after it warned of a significant drop in operating profit this year.

Today's European research round-up (Editing by Toby Chopra)