European shares Decline But ASML and ING Were Among The Winners in Early Trade

European stocks are lower, but on track for gains for the second week in a row, as investors await more indications of progress in implementing US stimulus measures, while rising ASML and ING shares curbed the decline.

The pan-European STOXX 600 index fell 0.1%, after gaining nearly 4% since the start of the month.

Shares in ING Group jumped 1.5% after the largest Dutch bank posted a profit before taxes of 1.05 billion euros ($ 1.27 billion) in the fourth quarter of last year.

ASML Holding rose 1.5% after the Dutch equipment maker said a shortage of chips slowing auto production was a symptom of a wider demand increase, putting pressure on suppliers in the semiconductor sector.

The European technology stocks index rose 0.4%, to be one of a limited number of gainers in early trade.

Market dealers are hoping that lawmakers will pass a proposed stimulus bill worth $ 1.9 trillion in the United States soon, as data show a faltering recovery in the US labor market, which strengthens the justifications for demanding it.