European shares fall as Sweden's SBB drags
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May 9 (Reuters) -European shares fell on Tuesday, with Sweden's SBB leading declines after delaying its dividend payment while investors remained wary ahead of crucial upcoming U.S. economic data releases.
The pan-European STOXX 600 index .STOXX fell 0.2% by 7:06 GMT, with investor focus on U.S. consumer prices data due later this week for cues on whether the Federal Reserve can pause future rate hikes.
SBB SBBb.ST dropped 7.7% after the Swedish landlord on Monday said it would delay its dividend payment and no longer carry out a 2.63 billion Swedish crowns ($259.1 million) rights issue after S&P Global cut its credit rating to junk.
Limiting losses, Banco BPM BAMI.MI climbed 4.9% after Italy's third-largest bank raised its profit target for this year and the next, followingstronger-than-expected first-quarter earnings.
Fresenius Medical Care FMEG.DE advanced 1.4% after the German dialysis specialist reported a smaller-than-expected drop in its first-quarter adjusted operating income.
Reporting by Amruta Khandekar
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