European Shares Steady Amid Mixed Industrial and Mining Performances
European shares remained flat as gains in the industrial sector were offset by losses in mining. Investors are awaiting crucial economic data to gauge future monetary policies for the euro zone and the U.S. The STOXX 600 index saw minor shifts, while Rolls-Royce shares rose and Partners Group dropped.
European shares stayed flat on Tuesday as gains in the industrial sector were counterbalanced by losses in mining. Investors are keenly awaiting new economic data to clarify the monetary policy direction for both the euro zone and the United States.
The pan-European STOXX 600 index remained unchanged by 0717 GMT. German stocks saw a slight increase of 0.1% after reaching a record close in the previous session. Rolls-Royce fueled industrial gains with a 4.2% rise, thanks to Cathay Pacific's announcement that three of its 48 Rolls-Royce-powered jets had successfully undergone repairs and would resume operations by Saturday.
On the flip side, miners fell 0.6% due to declining nonferrous metal prices, driven by a strong dollar and concerns over sluggish demand following weak manufacturing data from China, the largest consumer. Partners Group experienced a 6.6% drop, landing at the bottom of the STOXX 600, after missing earnings expectations for the first half of the fiscal year.
Throughout the day, investors will keep a close eye on remarks from European Central Bank policymakers Claudia Buch, Jose Manuel Campa, and Kerstin af Jochnick for hints about the bank's upcoming moves on September 12. Additionally, the U.S. ISM manufacturing survey scheduled for later in the day, along with the jobs data due on Friday, will significantly influence the Federal Reserve's forthcoming decisions.
(With inputs from agencies.)
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