European shares muted ahead of key U.S. inflation data
08/05/2023 08:18
(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
May 8 (Reuters) - European shares were muted on Monday
as investors cautiously awaited key U.S. inflation data due
later in the week for more cues on the Federal Reserve's
monetary policy path, although healthcare and energy stocks
posted upbeat performances.
The pan-European STOXX 600 index .STOXX held its ground at
465.44 points, as of 0707 am GMT, following declines last week
when major central banks raised interest rates while fears about
the U.S. banking sector flared up again.
Drugmaker Novo Nordisk NOVOb.CO was a big mover in the
index with a 2.3% climb, and energy shares .SXEP , which were
among top decliners last week, edged 0.6% higher.
Stock markets in London are closed for a holiday following
the coronation of King Charles on Saturday.
Shares of Rational RAAG.DE fell 2% after Baader Helvea cut
the German industrial kitchen equipment maker's rating to
"reduce" from "add."
(Reporting by Amruta Khandekar; Editing by Sherry
Jacob-Phillips)
((Amruta.Khandekar@thomsonreuters.com;))