(Reuters) – European shares were flat on Tuesday as gains in industrials were offset by losses in miners, while investors awaited a raft of economic data that will shed more light on the monetary policy path for the euro zone and the United States.
The pan-European STOXX 600 index was flat by 0717 GMT, with German stocks inching 0.1% higher after notching a record close in the previous session.
Rolls-Royce provided the biggest boost to industrials with a 4.2% rise after Hong Kong’s Cathay Pacific said three of the 48 Rolls-Royce-powered planes it had inspected had already gone through successful repairs and all of the jets were expected to resume operation by Saturday.
Miners slid 0.6% as prices of nonferrous metals fell, weighed down by a firm dollar and demand worries, following weak manufacturing data from top consumer China. [MET/L]
Partners Group slipped 6.6% to the bottom of the STOXX 600 after it missed earnings expectations in the first half of the financial year.
Investors will closely monitor comments from European Central Bank policymakers Claudia Buch, Jose Manuel Campa and Kerstin af Jochnick through the day for any signals on the central bank’s next move on Sep. 12.
The U.S. ISM manufacturing survey due later in the day and jobs data due on Friday will be crucial for the Federal Reserve’s decision.
(Reporting by Shubham Batra in Bengaluru; Editing by Mrigank Dhaniwala)
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