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May 14 (Reuters) - European shares were subdued on

Tuesday as investors braced for key U.S. inflation data and

Federal Reserve Chair Jerome Powell's remarks due later in the

day, while Delivery Hero jumped on the sale of its Taiwan

foodpanda business to Uber ( UBER ).

The pan-European STOXX 600 was unchanged as of 0717

GMT.

On the day's agenda are U.S. producer prices inflation data

and Powell's remarks, ahead of the market-moving consumer prices

inflation data on Wednesday, as investors try to assess the

Fed's interest rate cut outlook.

Delivery Hero shares soared 20% after Uber ( UBER )

announced a $1.25 billion deal to take over its

foodpanda business in Taiwan and buy new shares in the German

firm.

Swiss eye-care group Alcon advanced 9% after

first-quarter earnings, while hearing aid maker Sonova Holding

climbed 6% after forecasting accelerating growth for

2024.

Rheinmetall shed 5.5% after the German arms

manufacturer missed expectations for first-quarter sales and

profit.

German chemicals distributor Brenntag dropped

7.8% on lowering its full-year earnings forecast after missing

first-quarter operating EBITA estimates.