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April 30 (Reuters) - European shares opened trade on a

subdued note on Tuesday, as investors parsed a deluge of

corporate earnings reports from industry heavyweights while

keeping an eye out for economic data including the euro zone's

inflation for April.

The continent-wide STOXX 600 stocks index was flat,

as of 0710 GMT, but set to log its first monthly decline in six.

Investors will monitor the bloc-wide flash April inflation

and first-quarter GDP data during the day for clues on the

European Central Bank's interest rate cuts beyond June.

Shares of Mercedes-Benz shed 2.7% after reporting

a 30% drop in its first-quarter earnings while pledging to steer

clear of entering a discount race.

Stellantis ( STLA ) lost 2.2% following the Franco-Italian

carmaker's plunge in first-quarter revenue.

Vonovia climbed 5% following the largest German

real estate group's return to profit in first quarter.

Shares of HSBC ( HSBC ) climbed 2.3% after the lender

announced its quarterly results, a share buyback plan, and CEO

Noel Quinn's surprise retirement.

Logitech jumped 6% after the Swiss-American

computer peripheral maker's better-than-expected full-year

outlook and fourth-quarter results beat.