European shares start the week muted, inflation data in focus
2024.05.27 03:57
(Reuters) – European stocks were subdued at the start of the week, with several major markets closed and investors maintaining a cautious stance ahead of key inflation data from the United States and Europe later this week.
The pan-European index was down 0.02% at 07:13 GMT.
With the U.S. and UK markets closed on Monday, trading activity was dull across the board.
Investors are awaiting euro zone May consumer prices data for May ahead of the European Central Bank’s (ECB) policy meeting next week. The central bank looks set to start easing interest rates in the upcoming meeting with a 90% probability and a softer inflation data could help seal the June rate cut.
U.S. inflation data, also due on Friday, could help traders assess the timing and numbers of possible rate cuts by the Federal Reserve this year.
In corporate news, shares in salmon producer P/F Bakkafrost led declines on the STOXX 600 index with a 4.5% slip after ISA virus was found in two pens at farming site A-19 Vágur.
