European Shares Edge Lower Amid Data-Heavy Week and ECB Speculations

European shares saw a slight dip as investors prepared for a week rich in economic data and ECB speeches. The STOXX 600 index fell 0.2% following a recent high. Miners led the losses while Rightmove surged on acquisition rumors, and Sanofi faced challenges with its MS drug candidate.

European shares inched lower on Monday as investors braced for a data-intensive week and awaited speeches from several European Central Bank officials, keenly watching for clues about the central bank's policy direction in the coming week. The pan-European STOXX 600 index was down 0.2% by 0712 GMT after hitting an all-time high last week as inflation in the euro zone fell to 2.2% in August, its slowest pace since July 2021.

Miners were the top losers with a 1.3% fall after most base metals begun September on a weaker note as the market trimmed bets about an aggressive policy easing in the U.S. and China's manufacturing data increased demand concerns. Rightmove jumped 24.5% after REA Group, the property listings company majority-owned by News Corp, said it was considering buying the British firm to create a global real estate giant.

Sanofi rose 2.5%. Its most advanced multiple sclerosis (MS) drug candidate missed the main goal of two late-stage trials to treat relapsing forms of the disease, dimming the prospects for a widely-pursued class of drugs. For the day, investors will track manufacturing data for August from Germany, Spain and consolidated 20-country euro zone at around 0800 GMT to gauge the strength of the economies in the region.

(With inputs from agencies.)