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European shares flat; key inflation data in focus
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European shares flat; key inflation data in focus
Oct 2, 2024 9:57 PM

(For a Reuters live blog on U.S., UK and European stock

markets, click or type LIVE/ in a news window)

Oct 1 (Reuters) - European shares were flat on Tuesday,

after closing 1% lower in the previous session, while investors

braced for a key inflation figure for the region due later in

the day.

The pan-European STOXX 600 held its ground at

522.97 by 0710 GMT, after it logged its worst day in over one

week on Monday.

Tech stocks were the biggest boost to the index,

gaining 0.5%.

Energy stocks were the biggest weight, dragged by a

near 5% decline in Neste Oyj ( NTOIF )

Eurozone's flash PMI figures for September are due at 0900

GMT, while manufacturing PMIs for the bloc as well as Germany,

France, Italy and Britain are set to drop within the first hour

of trading.

Speeches by European Central Bank's Vice President Luis de

Guindos and ECB's policymaker Olli Rehn are also awaited.

Among individual stock moves, Covestro ( CVVTF ) jumped 4%

after Abu Dhabi National Oil Company (ADNOC) said it has agreed

to buy German chemicals producer for 14.7 billion euros ($16.4

billion).

Anheuser-Busch InBev gained 2.6% after Citigroup

upgraded the rating on the Budweiser brewer to "buy" from

"neutral".

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