European Shares Inch Lower With All Eyes On Lagarde

(RTTNews) - European stocks were broadly lower in cautious trade on Thursday ahead of a European Central Bank rate (ECB) decision later in the day.

The ECB is likely to keep interest rates unchanged, but the focus will be on whether President Christine Lagarde would signal interest-rate cuts in June, given easing price pressures and economic weakness.

The pan-European STOXX 600 dropped 0.3 percent to 505.10 after rising 0.2 percent on Wednesday.

The German DAX shed 0.4 percent and the U.K.'s FTSE 100 slipped 0.2 percent, while France's CAC 40 was marginally higher.

The British pound rebounded against its peers after Bank of England (BoE) policymaker Megan Greene said interest rate cuts in the U.K. should be a way off" and that Britain has a higher risk of persistent inflation than the U.S.

Swiss fragrance and flavor maker Givaudan fell about 2 percent despite posting higher first-quarter sales.

Kenmare Resources slumped 6 percent. The mining firm said shipments fell in the first quarter of the year, but it remains on track to meet guidance for the year.

Artificial intelligence cybersecurity firm Darktrace surged 6.2 percent after it reported a return to growth for its third quarter.

Biopharma giant AstraZeneca added 1.5 percent after promising to increase its dividend this year.

French advertising company Publicis Groupe rose over 1 percent after its net revenue for the first quarter grew 4.9 percent, reflecting solid performance across all regions.

Societe Generale shares rallied 2.4 percent. The lender has signed a pact with Groupe BPCE to sell Societe Generale Equipment Finance, a professional equipment financing business, for 1.1 billion euros.

Gerresheimer AG, a maker of packaging products for medication and drug delivery devices, lost over 4 percent after reporting a slight decline in first-quarter net income.

Airline Lufthansa declined 1.6 percent after an announcement that it has suspended its flights to and from Tehran because of the present situation in the Middle East.