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MILAN Oct 5 European shares fell on Wednesday
on concerns over the outlook of the European Central Bank's
(ECB) bond buying programme, while Tesco soared on a
well-received earnings update.
The STOXX 600 was down 0.9 percent by 0715 GMT,
with all sectors trading in the red and following a rise of 0.8
percent in the previous session. The pan-European index remains
down around 6 percent so far this year.
Bloomberg reported late on Tuesday that the ECB will
probably gradually wind down bond purchases before the
conclusion of quantitative easing, rattling global markets.
Tesco rose 7 percent after touching its highest level in
more than one year, after the UK retailer posted first-half
results at the top end of expectations and said it would
increase investment to boost profitability over the next three
Telecoms group SFR fell 6.4 percent after
France's market watchdog blocked an all-share buyout offer from
rival Altice, while insurer NN Group fell 3.6
percent after launching a bid for smaller peer Delta Lloyd
Delta Lloyd soared 28 percent, remaining just a touch below
NN's offer price.
(Reporting by Danilo Masoni, editing by Kit Rees)