European shares begin week quietly, eyes on inflation data

European stocks remained subdued on Monday due to several major markets being closed, Reuters reported.

The pan-European STOXX 600 index declined by 0.02 per cent at 07:13 GMT., with both the US and UK markets closed on Monday, trading activity was lacklustre.

Investors are closely watching eurozone May consumer price data ahead of the European Central Bank’s (ECB) policy meeting next week. The ECB is expected to begin easing interest rates with a 90 per cent probability, and softer inflation data could confirm a rate cut in June.

Meanwhile, US inflation data, also due on Friday, will provide insights for traders assessing potential rate cuts by the Federal Reserve later this year.

In corporate news, shares of salmon producer P/F Bakkafrost declined by 4.5 per cent on the STOXX 600 index after an ISA virus was detected in two pens at the A-19 Vágur farming site.