European shares subdued ahead of data-heavy week

(Reuters) – European shares were subdued on Monday ahead of a raft of key economic data this week.

The pan-European STOXX 600 index was flat at 518.22 by 0708 GMT. The benchmark touched its highest level in more than three weeks on Friday and logged gains for the third straight week.

Switzerland’s non-farm payrolls rose 1.3% for the second quarter, according tot data on Monday, while German business sentiment data is expected at 0800 GMT, and detailed GDP figures for Europe’s largest economy are due on Tuesday.

Eurozone industrial and economic sentiment, Spanish flash consumer prices, German retail sales, and preliminary consumer prices are also expected this week.

The week will conclude with Eurozone flash figures, French and Italian preliminary consumer prices, German employment data, and personal consumption expenditure figures from the U.S.

On the day, the technology sector was the biggest drag on the STOXX 600, declining 0.4%, but losses were offset by a 0.5% gain in real estate stocks.

Among individual stocks, P/F Bakkafrost fell 2.5% after the Faroese salmon farming firm missed estimates for second-quarter revenue.

London markets are closed for a holiday.

Source : Investing.com