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European shares muted ahead of more economic data
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European shares muted ahead of more economic data
Sep 3, 2024 2:37 AM

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

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

Sept 3 (Reuters) - European shares were flat on Tuesday

as gains in industrials were offset by losses in miners, while

investors awaited a raft of economic data that will shed more

light on the monetary policy path for the euro zone and the

United States.

The pan-European STOXX 600 index was flat by 0717

GMT, with German stocks inching 0.1% higher after notching a

record close in the previous session.

Rolls-Royce provided the biggest boost to industrials

with a 4.2% rise after Hong Kong's Cathay Pacific said three of

the 48 Rolls-Royce-powered planes it had inspected had already

gone through successful repairs and all of the jets were

expected to resume operation by Saturday.

Miners slid 0.6% as prices of nonferrous metals

fell, weighed down by a firm dollar and demand worries,

following weak manufacturing data from top consumer China.

Partners Group slipped 6.6% to the bottom of the

STOXX 600 after it missed earnings expectations in the first

half of the financial year.

Investors will closely monitor comments from European

Central Bank policymakers Claudia Buch, Jose Manuel Campa and

Kerstin af Jochnick through the day for any signals on the

central bank's next move on Sep. 12.

The U.S. ISM manufacturing survey due later in the day and

jobs data due on Friday will be crucial for the Federal

Reserve's decision.

(Reporting by Shubham Batra in Bengaluru; Editing by Mrigank

Dhaniwala)

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