European Shares Stay Flat Amid Key Economic Data Anticipation; Tech Stocks Suffer

European shares were flat on Monday as investors awaited significant economic data. Semiconductor stocks led the technology sector lower, with ASML Holding and others witnessing declines. European Central Bank’s monetary policy and upcoming key data, including EU inflation estimates, were primary focuses. Tech stocks slid, while real estate gained.

European shares remained flat in subdued Monday trading as semiconductor stocks dragged the technology sector downwards. Investors are eagerly awaiting several critical economic data releases this week, which could offer more insight into future monetary policy directions.

Stocks of European semiconductor companies, such as ASML Holding, ASM International, and Aixtron, fell between 1.6% and 2.7%. Traders are eyeing the European Central Bank's meeting on Sept. 12, with many pricing in a 25 basis point rate cut.

The pan-European STOXX 600 index held steady at 518.05 at 1600 GMT, while Germany's benchmark index closed down 0.1% following a decline in business morale. Rate-sensitive real estate stocks led gains, while oil and gas sectors also rose as crude prices surged.

(With inputs from agencies.)