Aug 20 2024: European shares remained flat on Tuesday as traders adopted a cautious approach ahead of crucial euro zone data, with energy stocks leading the declines following a drop in global oil prices.
As of 0710 GMT, the pan-European STOXX 600 index remained stable at 514.87 points, after reaching a three-week high in the previous session.
The oil and gas sector was the biggest drag on the index, falling nearly 1% as crude prices declined amid easing geopolitical tensions and weak demand from China.
In contrast, technology stocks rose by 0.6%, with ASML Holdings leading the gains with a 1.3% increase.
Investors are closely watching the upcoming euro zone consumer price data, scheduled for release at 0900 GMT.
In Germany, producer prices fell by 0.8% year-on-year in July, matching expectations. The German DAX index edged up by 0.2%.
Sweden’s benchmark index remained unchanged ahead of the central bank’s rate decision, set for release at 0730 GMT.
Among notable individual stock movements, Jyske Bank saw a 2.1% rise after the Danish bank reported its first-half financial results.
