European Stock Market News - European Shares

European shares and dollar edge up, ECB keeps investors wary

Shares edged up in Europe and the dollar made slight gains on Thursday, with investors focusing on the European Central Bank, which is expected to keep the door open to more economic stimulus after its latest policy-setting meeting.

Citi's economics team, led by influential chief economist Willem Buiter, cut on Wednesday its 2016 global growth outlook to 2.8 percent - a rate Buiter has previously said represents a recession.

While the ECB is not expected to take any new policy steps on Thursday, bank president Mario Draghi may signal readiness to extend its 1 trillion euro bond-buying quantitative easing scheme if necessary.

The pan-European FTSEurofirst 300 stocks index .FTEU3 rose less than 0.1 percent in early deals, helped by an increased full-year sales outlook from Swiss drugmaker Roche (ROG.VX). The company's shares were up 1.2 percent.

Earlier MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS slipped 0.3 percent. Japan's Nikkei .N225 closed down 0.6 percent.

However, China bucked the trend, rebounding from Wednesday's roughly 3 percent dive. The Shanghai Composite index .SSEC and the CSI300 .CSI300 both rose 1.5 percent.

The dollar, which has been losing ground in the past month as expectations the Federal Reserve will raise interest rates this year have waned, edged up against a basket of currencies .DXY.

The euro EUR= fell 0.2 percent to $1.1313 as investors were wary of the prospect of more ECB. The dollar was down 0.2 percent at 119.76 yen JPY=.