LIVE MARKETS-STOXX flat, 'hope and wariness' around BP

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STOXX FLAT, 'HOPE AND WARINESS' AROUND BP

European shares saw a broadly flat start on Thursday as traders wrapped up a strong year for global stocks, awaiting the latest policy decisions, including from the BoE and ECB, and key U.S. data for clues on possible Fed rate cuts next year.

The region-wide STOXX 600 .STOXX was up 0.1%, on track for a 14% gain this year, with the EuroSTOXX50 .STOXX50E up 0.2% on the day, and London's FTSE 100 .FTSE little changed.

Defence stocks were in demand, and so were some chip stocks, as a blowout forecast from Micron Technolgy MU.O helped soothe tech nerves after recent AI valuation concerns.

BP BP.L swung between gains and losses after picking outsider Meg O'Neill as its next CEO to boost profits and refocus the oil group after its push into renewables.

BofA expects investors to welcome the outside injection of energy but fear near term uncertainty over its restructuring.

"Investors will greet her with equal measures of hope for accelerated self-help momentum containing more radical restructuring; as well as wariness of a period of uncertainty over BP’s future direction...," BofA said.

(Danilo Masoni)

EARLIER ON LIVE MARKETS:

BEFORE THE BELL: MICRON SOOTHES TECH NERVES, EUROPE MIXED CLICK HERE

BOE TO MAKE THE CUT AS OTHERS STAY THE COURSE CLICK HERE