European shares stall ahead of ECB inflation surveys

European shares remained subdued on Tuesday as investors await inflation surveys for clues about the European Central Bank’s (ECB) monetary policy direction, Reuters reported.

The pan-European STOXX 600 index traded flat at 07:16 GMT, with Germany’s DAX edging up by 0.2 per cent following the release of a report indicating a 1.8 per cent year-over-year decline in German wholesale prices for April.

Later in the day, market attention would focus on the ECB’s release of inflation expectation surveys. Lowered forecasts would strengthen expectations of a rate cut next week, with markets pricing this scenario at a 91 per cent probability.

ECB member Klaas Knot and the Federal Reserve’s Neel Kashkari were also scheduled to speak, offering further insights into global interest rate outlooks.

In corporate updates, Norway’s Cadeler A/S saw its shares decline by 2.3 per cent following losses reported in the first-quarter group results.

Meanwhile, German flavour and fragrance maker Symrise experienced nearly a 3 per cent increase, leading gains on the STOXX 600, after Deutsche Bank upgraded the stock’s rating from “hold” to “buy.”