European shares open flat

<p>European shares have started flat this morning.</p>

European shares have started flat in today's trading (March 15th).

Equity markets have continued to show impressive strength, with central bank stimulus and an improving US economy providing support.

At 08:03 GMT, the FTSEurofirst 300 was up by just 0.33 of a point to 1,208.16, which comes immediately after the previous day's sharp rally, reports Reuters.

"You have screaming bearish divergence signals on various technical indicators such as the RSIs but it has been like that for a while and the market just keeps pushing away to the upside," Gerry Celaya, chief strategist at Red Tower Research, said.

It is believed this could limit the gains on the market in today's trading of European shares.

The last three months of 2012 saw GDP for the euro area fall by 0.6 per cent, it was recently revealed by Eurostat, the statistical office of the European Union.

Its data showed the figure for the EU27 was recorded as being 0.5 per cent.

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