FTSE 100 down 0.16%; DAX down 0.18%; CAC 40 down 0.20% (Il Sole 24 Ore Radiocor) - Milan, 21 Jun - European shares opened marginally lower after a mixed session on Wall Street overnight as yesterday's rebound lost steam. The Stoxx 600 index was down 0.21% in early trade.

Investors looked for fresh direction after a string of central bank meetings yesterday.

The Bank of England left interest rates unchanged at a 16-year high of 5.25%, as widely expected.

A majority of economists polled by Reuters recently forecast a cut in August, after the country's July 4 election.

Meanwhile, the the Swiss National Bank cut rates by 25 basis points to 1.25% and said that it is also willing to be active in the foreign exchange market as necessary. The decision follows a similar move in March, when the SNB became the first major central bank to cut rates during this cycle.

Also, the Monetary Policy and Financial Stability Committee of Norges Bank, Norway's central bank, said it decided to keep the policy rate unchanged at 4.5% and is likely to keep it at this level until the end of the year, before gradually reducing it.

On the data front, UK retail sales volumes rose 2.9% in May, well ahead of expectations for a 1.5% increase after a weak April print, while French business confidence held steady for a third straight month.

In European stock market dealings most sectors were lower, with retail and technology shares leading the losses.

At 0730 GMT the London FTSE 100 was down 0.16% at 8,259 points, the Frankfurt DAX was down 0.18% at 18,207 points, the Paris CAC 40 down 0.20% at 7,655 points, while in Milan the FTSE MIB fell 0.74% at 33,425 points, and in Madrid the IBEX 35 was down 0.45% at 11,110 points.

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(RADIOCOR) 21-06-24 09:49:36 (0220) 5 NNNN