European stocks on hold ahead of key inflation data

European shares remained steady on Wednesday, with the STOXX 600 showing no change by 07:15 GMT, as investors await a crucial inflation report that could impact the European Central Bank’s timing for its first interest rate cut, according to Reuters.

The focus is now on the Eurozone inflation report for March, due at 09:00 GMT, following Germany’s lower-than-expected inflation figures on Tuesday.

Excluding unstable elements, consumer prices are projected to increase by 3 per cent in March, a slight decrease from the 3.1 per cent rise seen in the previous month.

In the meantime, the technology sector saw a 0.3 per cent increase amid fluctuating trading conditions.

An intense earthquake in Taiwan has sparked worries about potential disruptions to the crucial semiconductor industry, which has been a major driver of the global rally in the last quarter.

In individual stock news, Meyer Burger (SIX: MBTN) announced the successful completion of a capital increase through a rights issue, generating gross proceeds of 206.75 million Swiss francs ($227.7 million).

This news led to a 31.9 per cent drop in the shares of the solar panel manufacturer.