European shares bounce back ahead of inflation data

Dormakaba Holding AG

31/08/2022 08:04

(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
    Aug 31 (Reuters) - European shares edged higher on
Wednesday, supported by strong performances in tech stocks
following a three-day selloff, with focus on regional inflation
figures due later in the session.
    The continent-wide STOXX 600  .STOXX  was up 0.4%, as of
0716 GMT, snapping three consecutive days of losses. But the
index was set for a monthly loss of nearly 4%.
    Rate-sensitive tech stocks  .SX8P , down for three straight
days on expectations of aggressive interest rate hikes globally,
climbed 2.1%.
    Among stocks, Italian luxury group Brunello Cucinelli
 BCU.MI  fell 3.9% after posting its half-year results.
 urn:newsml:reuters.com:*:nFWN30612U
    Dormakaba Holding  DOKA.S  slipped 2% after the Swiss
security group forecast organic growth slightly above its target
range, but added that the outlook applied only to the first half
of the 2022/23 financial year.  urn:newsml:reuters.com:*:nL1N30709C
    Gains were also capped as Russia began halting gas flow via
a major pipeline to the continent's largest economy on
Wednesday.   urn:newsml:reuters.com:*:nL1N30705K
    Focus in now on euro zone inflation reading  EUHICF=ECI  for
August due at 0900 GMT.
    
    

 (Reporting by Anisha Sircar in Bengaluru; Editing by Sherry
Jacob-Phillips)
 ((Anisha.Sircar@thomsonreuters.com;))