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London - European shares erased earlier gains, putting an end to a rally that had recouped more than half the losses from the aftermath of the Brexit vote.
The Stoxx Europe 600 Index lost 0.1% at 8:55 a.m. in London, after earlier rising as much as 0.6%. Technology shares and financial-services firms slid, while gains in car makers tempered the decline.
The European Central Bank is considering loosening the rules for its bond purchases to ensure enough debt is available to buy in the aftermath of the UK’s vote to leave the European Union, people familiar with the matter said yesterday.
After the unexpected referendum results sparked a two-day selloff, European shares recouped more than half those losses as central banks stepped up to reassure investors they were ready to act to quell its impact on economic growth and financial markets.
The Bank of England could loosen policy within months, Governor Mark Carney said yesterday, spurring more gains in the Stoxx 600. The benchmark trimmed its first monthly loss in four and is set for a weekly rise of 2.9%.
Stocks were volatile in the run-up to and the aftermath of the Brexit vote, with trading volume reaching records.
A gauge of euro-area equity swings surged to a ten-month high before the referendum, before subsiding near a three-week low.
Among shares active on corporate news, Temenos Group climbed 3.9% after the Swiss software maker said Standard Chartered will use its wealth management program in more than 30 markets.
