European Shares Slip In Cautious Trade; Lagarde's Remarks Eyed

(RTTNews) - European stocks were subdued on Monday ahead of key eurozone inflation data due this week that could offer important clues on the timing of interest rate cuts.

ECB President Lagarde's speech and U.S. economic data, including housing sector indicators, may influence trading sentiment later in the day.

The euro rose against its major rivals after ECB's Yannis Stournaras ruled out the possibility of rate cuts in March.

Inflation reports from Germany, France and Spain along with the U.S. Federal Reserve's favored core measure of personal consumption expenditure prices are due on Thursday.

The pan European STOXX 600 was down 0.3 percent at 495.75 after rising 0.4 percent on Friday.

The German DAX was marginally lower, France's CAC 40 slipped 0.4 percent and the U.K.'s FTSE 100 eased 0.3 percent.

Sweden's Pagero Group AB fell about 1 percent after content and technology company Thomson Reuters Corp. announced the acquisition of the company in a recommended public offer for around $800 million or 8.1 billion Swedish Kronor.

Ryanair rose more than 1 percent after reports the Irish budget airline may raise peak summer air fares in Europe by up to 10 percent.

Automaker Stellantis N.V. declined 1.1 percent after announcing a deal with leasing and fleet management company Ayvens for 500,000 vehicles across Europe by 2026.

Miners Anglo American and Glencore dropped 1-2 percent as copper prices declined on China demand concerns.

Biopharma giant AstraZeneca rose 1.3 percent after receiving approval from European regulators for its blood-disorder drug Voydeya.

Bunzl slumped nearly 5 percent. The distribution and outsourcing company said it had signed an agreement to acquire Nisbets in the U.K. and Pamark in Finland.

Homebuilders Persimmon fell almost 2 percent and Barratt Developments shed half a percent following the antitrust watchdog's investigation into the sector.