European shares opened flat on Wednesday as investors took a breather after gains seen earlier this week following the US-China trade truce, while key inflation data from Germany was also in focus.
The continent-wide STOXX 600 index was unchanged at 545.31 points as of 07:10 a.m. GMT.
The benchmark had logged its fourth consecutive session of gains in the previous session on Tuesday.
The week began on a firm note after Beijing and Washington agreed to a 90-day pause on most of the tariffs imposed on each other in April, sparking optimism that a global recession from the trade war may be averted.
Meanwhile, data showed German inflation eased further to 2.2% in April, confirming preliminary figures, while Spain’s European Union-harmonised 12-month inflation rate fell to 2.2% in March from the period through February.
European stocks extend gains for fourth day, Bayer soars
Among individual stocks, luxury firm Burberry topped expectations as brand sentiment was improving.
Its shares were up 7.9%. German chemicals distributor Brenntag fell 3% after it reported a lower-than-expected quarterly core profit.
Vestas rose 1.2% after Berenberg raised the wind turbine maker to “buy” from “hold”.
Comments
Comments are closed for this article.