Up 32% from its March lows, the Stoxx Europe 600 SXXP, -0.48% slipped 0.5%, with the recently rallying Stoxx Europe Total Market Value Index STVP, -1.20% declining by 1%.
The European Central Bank is expected to expand its €750 billion Pandemic Emergency Purchase Program, by €500 billion, after ECB President Christine Lagarde downgraded the central bank’s eurozone GDP estimate to a drop between 8% and 12% this year. LVMH Moet Hennessy Louis Vuitton MC, +0.16% shares were steady after saying “on this occasion” it is not considering buying Tiffany TIF, -2.38% shares “on the market” after a board meeting. Women’s Wear Daily has reported that LVMH’s planned takeover of Tiffany was in jeopardy.
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