Europe open: Shares flat as investors eye US data
European shares opened slightly higher in cautious trade at the opening on Tuesday as after mixed trading in Asia overnight as investors eyed a key US inflation report on Wednesday.
The pan-European Stoxx 600 index was up 0.05% in early deals with most regional bourses edging ahead.
Investors are looking ahead to fresh US inflation readings with the latest producer price index due Tuesday and the consumer price index slated expected on Wednesday.
Economists are expecting producer prices to have risen 0.6% in October from September. The consumer price index is also expected to show a 0.6% jump compared to the prior month.
In equity news, shares in Britain's AB Foods gained 7% as it announced a special dividend after the company's balance sheet recovered from impact of the Covid pandemic pandemic.
Salmon farmer Bakkafrost slumped 12% as the company reported lower third quarter earnings and cut harvest targets.
Munich Re shares fell 3% as the insurer forecast more Covid-19-related losses.
German agriculture and pharmaceutical firm Bayer rose after reporting a better-than-expected rise in quarterly adjusted earnings.