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European shares dip as Dutch vote and Fed loom, FTSE bucks trend
March 14, 2017 / 8:27 AM / 6 months ago

European shares dip as Dutch vote and Fed loom, FTSE bucks trend

LONDON, March 14 (Reuters) - European shares fell on Tuesday on uncertainty ahead of elections in the Netherlands and a U.S. interest rate decision later in the week.

After four days of gains, the pan-European STOXX 600 index eased 0.2 percent by 0824 GMT, weighed down by banks and basic resources stocks.

Earnings were the main drivers behind stock moves, with shares in German fragrance and flavour firm Symrise declining 2.1 percent after reporting disappointing results.

German utility RWE was the biggest STOXX gainer, however, jumping nearly 7 percent after saying that it might cut its stake in networks and renewables unit Innogy to 51 percent. It did not comment on a report that France’s Engie was considering a bid for the company.

Innogy’s shares also rose 4.6 percent.

Britain’s FTSE 100 index outperformed, however, gaining 0.2 percent as sterling hit an 8-week low after British Prime Minister Theresa May won the right to trigger divorce proceedings with the European Union. (Reporting by Kit Rees; Editing by Louise Ireland)

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