European Shares See Modest Gains In Cautious Trade
(RTTNews) - European shares were slightly higher on Wednesday despite worries about inflation and the outlook for interest rates.
The euro hovered near multi-year lows against the dollar as focus shifted to Friday's U.S. payrolls data that could influence the Fed's rate trajectory.
Closer home, data showed German industrial orders fell 5.4 percent month-on-month in November, suggesting that the country's manufacturing sector resumed its downturn.
Additionally, German retail sales fell unexpectedly in the month, denting hopes for a boost from pre-Christmas promotions like Black Friday and Cyber Monday.
Retail sales dropped 0.6 percent in real terms compared with the previous month, the federal statistics office said.
European consumer confidence and economic sentiment data may garner investor attention later in the day.
The pan European STOXX 600 was up 0.2 percent at 515.62. The German DAX and the U.K.'s FTSE 100 both edged up by 0.2 percent while France's CAC 40 was marginally lower.
Rising bond yields and the threat of potential U.S. tariffs weighed on tech stocks, with Infineon Technologies falling over 1 percent.
Shell declined 1.6 percent after the British energy giant trimmed its Q4 LNG production outlook.
Swiss healthcare giant Roche added half a percent after completing a tender offer for Poseida Therapeutics shares.
Flutter Entertainment fell 2.6 percent after the online betting firm downgraded its U.S. revenue and profit guidance for 2024.
TeamViewer SE, a provider of software for remote computer access and control, surged 11.7 percent after full-year revenue topped guidance.
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