European Shares Mixed: Tech Gains vs Metal Losses

European shares opened subdued on Tuesday, with a technology-related rally led by strong earnings from SAP and Logitech being partially offset by declines in metal miners. The STOXX 600 index remained flat after a strong previous day. SAP and Logitech reported robust growth, while metal miners fell due to concerns over China's demand.

In Tuesday's trading session, European shares experienced a mixed opening. While a rally in technology stocks, driven by strong earnings from SAP and Logitech, propelled gains, these were partially offset by a decline in metal miners.

The pan-European STOXX 600 index stayed flat at 514.9 points as of 0715 GMT, following its best performance in over a month on Monday. Investor focus was on earnings reports, with SAP surging 6.2% after reporting a 25% increase in its cloud business, surpassing analysts' second-quarter revenue expectations.

Similarly, Logitech International saw a 2.3% rise as the company raised its full-year sales and profit outlook on the back of strong quarterly growth. This helped the technology sub-index climb nearly 1%. However, a 1.5% decline in metal miners exerted downward pressure on the benchmark index due to falling copper prices amid concerns about demand in China, the world's top consumer.

New economic data and projections will assist the European Central Bank in reassessing its monetary policy in September, according to ECB Vice President Luis de Guindos.

(With inputs from agencies.)