European shares tick lower ahead of key economic data
Investors will look out for fourth-quarter euro zone data on wages and labour costs, along with Germany's ZEW economic sentiment survey for March, all due for 1000 GMT. However, the main focus remains on the U.S. Federal Reserve's monetary policy decision on Wednesday, where the central bank is widely expected to hold interest rates. All eyes will be on its economic projections and how many rate cuts it estimates for the year.
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European stocks were subdued on Tuesday as losses in technology shares offset gains in consumer staple stocks ahead of key euro zone economic data due later in the day.
The pan-European STOXX 600 index was down 0.1% by 8:24 GMT, led by a 0.6% selloff in technology shares. Investors will look out for fourth-quarter euro zone data on wages and labour costs, along with Germany's ZEW economic sentiment survey for March, all due for 1000 GMT.
However, the main focus remains on the U.S. Federal Reserve's monetary policy decision on Wednesday, where the central bank is widely expected to hold interest rates. All eyes will be on its economic projections and how many rate cuts it estimates for the year. Property platform Hemnet rose 5.5% to the top of STOXX 600 after Jefferies raised its rating on the company's shares, while HelloFresh dropped 4.4% to the bottom of the index after Barclays downgraded the German meal-kit maker.
Unilever rose 5% after the consumer goods group said it plans to spin off its ice cream unit into a standalone business, as the consumer goods group announced a new cost-savings programme that would cut 7,500 jobs.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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- Barclays
- Germany
- Jefferies
- Unilever
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