European Markets Steady Ahead of Economic Data Avalanche

European shares remained largely unchanged on Monday as investors awaited significant economic data releases throughout the week. The pan-European STOXX 600 index showed no movement, with the technology sector dragging it down. The focus is on upcoming metrics and the ECB's outlook against a backdrop of mixed sentiments from central banks.

European shares remained largely unchanged on Monday, with the market gearing up for a slew of crucial economic data releases set throughout the week. Investors are keeping a close eye on these developments as they could potentially sway market dynamics.

The pan-European STOXX 600 index held steady at 518.22, as of 0830 GMT. While the market touched a three-week high last Friday and achieved three consecutive weeks of gains, the technology sector tempered any upward momentum by falling 0.3%. All eyes are on Nvidia's second-quarter results, due on Wednesday, to understand the tech sector's future trajectory.

Regional bourses largely traded in negative territory. Germany's benchmark index was down 0.3%, reflecting dwindling business morale in Europe's largest economy, as indicated by a recent survey. On a brighter note, Switzerland's non-farm payrolls rose by 1.3% for the second quarter, slightly lifting its benchmark. London markets remained closed for a local holiday. Meanwhile, attention is also on the European Central Bank's meeting on Sept. 12, where borrowing costs are expected to be a key topic.

(With inputs from agencies.)