Flat Opening for European Shares Amid Healthcare Losses and British Inflation Spike

European shares opened flat as healthcare stocks faced losses, while British shares were pressured by new inflation data. The STOXX 600 remained steady at 515.25 points with healthcare down by 0.5%. Conversely, travel and leisure stocks gained, with Accor rising 2.3% post-Barclays rating upgrade. UK inflation hit 2% for the first time in three years.

European shares opened flat on Wednesday as losses in heavyweight healthcare stocks kept a lid on gains, while shares in Britain came under pressure following fresh inflation data.

The pan-European STOXX 600 held steady at 515.25 points as of 0711 GMT, with healthcare among the biggest drags with a 0.5% decline. On the bright side, travel and leisure gained 0.7%, boosted by Accor, which rose 2.3% after Barclays upgraded the hotel group's rating to "overweight" from "equal weight".

Meanwhile, data showed British inflation returned to its 2% target in May for the first time in nearly three years. UK's FTSE 100 was last down 0.2%. Among other stocks, SMA Solar Technology AG dropped 29% after the German solar power parts supplier cut its profit guidance, citing political uncertainty.

Trading is expected to be light in the absence of U.S. participants as markets there were shut for a public holiday.

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