GLOBAL MARKETS-Solid ECB lending data buoys euro, slaps shares

Tue Oct 20, 2015 8:22am EDT
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* European stocks dip, Euro off 10-day low after solid ECB bank lending data

* China stocks hit near 2-month as recovery continues

* Loonie steadies after surprise election win for Liberals

* China uncertainty weigh on metals

By Marc Jones

LONDON, Oct 20 (Reuters) - European shares fell for the first time in four days on Tuesday and the euro kicked away from a 10-day low as solid euro zone bank lending data cooled expectations of another jolt of European Central Bank stimulus this week.

The 0.5 percent decline in the pan-European FTSEurofirst 300 index and what looked set to be a subdued start for Wall Street took the shine off after recovering Chinese stock markets touched a nearly two-month high.

The dollar meanwhile fell for the first time in four days as the euro and the Canadian dollar, which had been knocked overnight by a shock majority election victory for the Liberal party, both rebounded.

The quarterly lending data from the ECB ahead of its meeting on Thursday was the principal driver for the euro's bounce, and for the reversal in Europe's stocks and bonds after what had been a positive start.   Continued...