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European shares dip as Fed cools further easing hopes

European shares dip as Fed cools further easing hopes
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 21, 2019. REUTERS/Staff -
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(Reuters) – European shares tracked Asian markets lower on Thursday, as sentiment was cooled by U.S. Federal Reserve minutes that showed policymakers viewed last month’s cut in interest rates as a recalibration not the start of sustained monetary easing.

All eyes were on Purchasing Managers’ Indexes (PMIs) for the manufacturing and service sectors in France, Germany and the Euro Zone due to be released between 0715 GMT and 0800 GMT.

The industrial sector <.SXNP> slipped 0.59% and pressured the pan-European STOXX 600 index <.STOXX>, which fell 0.3% by 0706 GMT.

The Federal Reserve minutes on Wednesday showed policymakers were deeply divided over whether to cut rates in July, but united in wanting to signal they were not on a preset path to more cuts.

Minutes from the European Central Bank’s last policy meeting are also due at 11:30 GMT.

Ambu A/S <AMBUb.CO> shares plunged 17.7%, to the bottom of STOXX 600, after the company lowered its full-year revenue and EBIT margin guidance.

(Reporting by Amy Caren Daniel in Bengaluru; editing by Patrick Graham)

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