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European stocks wander aimlessly ahead of ECB

FXStreet (Mumbai) - The stock markets across Europe lack direction as investors wait on the sidelines ahead of the all important ECB meet due later today.

The pan-European Euro Stoxx 600 index currently trades flat around 362.62 levels. Among regional indices, UK’s FTSE and France’s CAC are trading with moderate losses, while Germany’s DAX is up 0.2%.

Among Stoxx 600 stocks, Publicis Groupe lost 8% after the company cut its revenue outlook following a weak third quarter. Shares in UK’s Weir Group lost 5%.

Meanwhile, shares in Denmark’s Novozymes strengthened 7% after the company reported a 17% rise in the Q3 profit. The firm also lowered its outlook, but failed to hurt the shares.

Shares in Logitech International opened 3% higher and extended gains further to trade 5.5% higher on the day after it reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02.

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