European shares dip on trade, German 5G auction lifts telecom index

Reuters

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    June 13 (Reuters) - European shares dipped on Thursday,
tracking Asian markets lower after more violent protests in Hong
Kong and weighed down by doubts over the United States and
China's ability to reach a trade deal any time soon. 
    The pan-European STOXX 600 index  .STOXX  fell 0.24% at 0709
GMT, with traders also pointing to nerves over the scale of
monetary easing priced in to markets over the past two weeks. 
    U.S. inflation data on Wednesday inflated the number of
Federal Reserve rate cuts priced in to the money market to three
this year. Germany's final inflation reading for May came in
line with estimates on Thursday.
    Europe's telecom providers index bucked the trend to gain
0.3%  .SXKP  after Germany completed its 5G mobile spectrum
auction, handing a licence to new entrant 1&1 Drillisch
 DRIG.DE  and its parent United Internet  UTDI.DE .
    Shares in Drillisch and United Internet rose by 13% and 8%
compared to a just 0.2% rise for the country's former monopoly
Deutsche Telekom  DTEGn.DE , whose chief Dirk Woessner said the
process had led to high prices and left a "bitter aftertaste".

 (Reporting by Amy Caren Daniel and Medha Singh in Bengaluru;
editing by Patrick Graham)
 ((Amy.CarenDaniel@thomsonreuters.com ; within U.S.
+1-646-223-8780; outside U.S. +91 80 6749 9250 ; Reuters
Messaging: Amy.CarenDaniel.thomsonreuters.com@reuters.net;))

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