(Reuters) -European shares were subdued on Tuesday, as investors were cautious ahead of U.S. economic data amid increasing expectations of interest rate cuts in the world’s largest economy.
The pan-European STOXX 600 gained 0.1% to 563.38 points by 0811 GMT. Major regional bourses were mixed, with Germany’s DAX down 0.1% and France up 0.1%.
Markets await the release of a producer inflation report and retail sales figures in the U.S., which can shed more light on the health of the U.S. economy.
The datasets will be among the first to be released after the longest government shutdown in U.S. history caused a data fog for investors and the Federal Reserve.
Banks were the biggest boost to the European index, up 0.4%. Commodity-linked stocks such as oil companies and miners gained 0.7% and 0.6%, respectively.
Kingfisher rose 4.3%, among the top gainers on the STOXX 600, after the home improvement retailer upgraded its full-year profit outlook.
Progress on a Russia-Ukraine peace deal will also be monitored. The U.S. and Ukraine discussed a reworked plan to end the war on Monday, drafting a “refined peace framework”, prompting investors to believe that a resolution was near.
(Reporting by Anastasiia Kozlova in Gdansk and Purvi Agarwal in Bengaluru; Editing by Mrigank Dhaniwala)
Comments