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| - Europe's stock markets wavered Thursday as investors nervously awaited news of fresh eurozone stimulus, but the British pound dived on the growing risk of a no-deal Brexit after the latest trade talks floundered in Brussels, dealers said. The European Central Bank (ECB) will unveil the outcome of its latest monetary policy gathering and is forecast to unleash more stimulus to help shore up a eurozone economy that has been devastated by the coronavirus pandemic. However, equity gains were curbed by politicians' inability to reach agreements on post-Brexit trade arrangements and new US stimulus, while surging Covid-19 cases offset optimism about the rollout of vaccines. Sterling slid more than 1.0 percent versus the euro and dollar after British Prime Minister Boris Johnson and European Commission chief Ursula von der Leyen failed to find common ground in Wednesday's crunch talks. The euro drooped versus the dollar ahead of the ECB announcement, which is scheduled for 1245 GMT. The central bank's chief Christine Lagarde had all but promised in October that extra support was on the way. The Frankfurt-based institution already has a 1.35-trillion-euro ($1.6-trillion) emergency bond-buying programme in place. "It may well be Christmas come early for the bloc, with Christine Lagarde armed with a huge sack, fresh full of cash to backstop governments through the coming months as deficits balloon in a desperate attempt to protect jobs and the economy," Oanda analyst Craig Erlam told AFP. He added: "The ECB will be priced in already. It's been clear for months that they were going to have to act in December." At the meeting -- the last in what has been an extraordinary year -- observers expect interest rates to be frozen at historic lows. In early afternoon deals, Paris stocks gained 0.3 percent but Frankfurt ran out of steam. London was up 0.7 percent heading towards midday, as traders also tracked official data showing that British economic growth slowed sharply in October from September amid ongoing virus fallout. The weaker pound boosts London because it lifts share prices of multinationals earning in dollars. In contrast to the eurozone, US stimulus hopes appear to have been dashed once more. Optimism that US lawmakers could be close to a breakthrough in deadlocked talks grew Wednesday after the White House proposed an economic rescue package that was bigger than a bipartisan plan put forward last week. However, House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer showed little enthusiasm and the two sides remain stuck on Republican demands for liability protection for businesses and the funding for state and local governments, which is sought by Democrats. "Sadly, the fiscal fiasco has once again turned into a bit of a political blame game," noted Axi analyst Stephen Innes. There was a similar deadlock across the Atlantic. After eight months of negotiations and with just three weeks until a deadline on reaching a post-Brexit deal, Brussels and London remain stuck on various issues including fishing rights and rules for fair trade. "We had a lively and interesting discussion on the state of play across the list of outstanding issues," Von der Leyen said in a statement after dinner with Johnson at her Brussels' headquarters. "We gained a clear understanding of each other's positions. They remain far apart." The leaders agreed to further discussions by their negotiating teams "over the next few days" and that a "firm decision" should be taken by Sunday, a UK source said. London - FTSE 100: UP 0.7 percent at 6,608.24 points Frankfurt - DAX 30: FLAT at 13,351.49 Paris - CAC 40: UP 0.4 percent at 5,569.45 EURO STOXX 50: UP 0.3 percent at 3,538.99 Tokyo - Nikkei 225: DOWN 0.2 percent at 26,756.24 (close) Hong Kong - Hang Seng: DOWN 0.4 percent at 26,410.59 (close) Shanghai - Composite: FLAT at 3,373.28 (close) New York - Dow: DOWN 0.4 percent at 30,068.81 (close) Pound/dollar: DOWN at $1.3260 from $1.3399 at 2200 GMT Euro/pound: UP at 91.17 pence from 90.16 pence Euro/dollar: DOWN at $1.2087 from $1.2104 Dollar/yen: DOWN at 104.48 yen from 104.16 yen West Texas Intermediate: UP 1.5 percent at $46.19 per barrel Brent North Sea crude: UP 1.6 percent at $49.62 per barrel burs-rfj/rl
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