BRUSSELS, Aug 31 — European shares edged higher today, supported by strong performances in tech stocks following a three-day selloff, with focus on regional inflation figures due later in the session.
The continent-wide STOXX 600 was up 0.4 per cent, as of 0716 GMT, snapping three consecutive days of losses. But the index was set for a monthly loss of nearly 4 per cent.
Rate-sensitive tech stocks, down for three straight days on expectations of aggressive interest rate hikes globally, climbed 2.1 per cent.
Among stocks, Italian luxury group Brunello Cucinelli fell 3.9 per cent after posting its half-year results.
Dormakaba Holding slipped 2 per cent after the Swiss security group forecast organic growth slightly above its target range, but added that the outlook applied only to the first half of the 2022/23 financial year.
Gains were also capped as Russia began halting gas flow via a major pipeline to the continent’s largest economy today.
Focus in now on euro zone inflation reading for August due at 0900 GMT. — Reuters
