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Ageas jumps after H1 results beat estimates

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Covestro ( CVVTF ) rises on report ADNOC complete due diligence

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Chip stocks mixed ahead of Nvidia ( NVDA ) results

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French consumer confidence for August in line with

estimates

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STOXX 600 up 0.3%

(Updated at 1610 GMT)

By Pranav Kashyap and Lisa Pauline Mattackal

Aug 28 (Reuters) - The benchmark European stock index

rose to its highest since July on Wednesday, boosted by

insurance and chemical stocks ahead of closely-watched results

from Nvidia ( NVDA ) and key economic data.

The pan-European STOXX 600 index was up 0.3% to

520.6 points. The chemicals sector led gains, up 1.4% to

a more than two-month high, with Givaudan, Symrise AG

and Covestro ( CVVTF ) all up over 3%.

Covestro ( CVVTF ) notched its best day in more than two months after

a report that ADNOC has completed due diligence on its planned

bid for the company. Symrise and Covestro ( CVVTF ) helped Germany's DAX

rise 0.5% to its highest since May.

The insurance sector also boosted the index, rising

1.2% after Belgium-based Ageas leapt 3.9% after its

half-year net operating results beat expectations and the

company announced a buyback programme.

On the data front, French consumer confidence for August was

at 92, in line with estimates. French stocks rose 0.2%.

Consumer confidence data for the Eurozone is due Thursday,

as are consumer price reports from Germany and Spain. A key

inflation print for the Euro zone is expected Friday, with

investors watching the data for further cues on monetary policy.

The European Central Bank meets in September and markets

have priced in a 25 basis-point rate cut, though policymakers

have emphasized the need for improving inflation data.

"The market is perhaps excessively discounting the risks of

sticky inflation in Europe," said Geoff Yu, EMEA macro

strategist at BNY Mellon.

"Simply based on commentary alone, the ECB is arguably even

more hawkish, even though market pricing is working in the

opposite direction in defiance."

Basic resources lost 1.2%, the sector's biggest

one-day loss in over three weeks, as metal prices were pressured

by a stronger U.S. dollar and concerns about demand from China.

Europe's technology sector pared early gains and was

flat ahead of industry heavyweight Nvidia's ( NVDA ) second-quarter

results expected after the close of U.S. markets.

The company's performance serves as a crucial indicator of

market trends with even a slight miss likely to hurt sentiment

around artificial intelligence-related companies, even as

European stocks have broadly recovered from a U.S. tech-led

global equity selloff in early August.

European chip stocks were mixed, with ASM International

and STMicroelectronics down 0.7% and 0.9%,

while ASML Holding rose 0.7%.

Prudential slipped 0.7% despite reporting a

first-half profit increase, as a slowdown in Hong Kong and China

weighed on overall growth.