(Reuters) – European shares traded in a narrow range on Wednesday as investors remained cautious ahead of a crucial inflation report that could affect expectations on the timing of the European Central Bank’s first interest rate cut.
At 07.15 GMT the entire continent was flat.
Following Tuesday’s colder-than-expected inflation report from the region’s largest economy, Germany, attention will turn to the Eurozone inflation report for March, due at 9am GMT.
Excluding volatile components, consumer prices are expected to increase by 3% in March, slowing from the 3.1% increase in the previous month.
The technology sector rose 0.3% amid choppy trading. A strong earthquake in Taiwan has raised concerns about possible disruptions in the vital chip-making sector, which had driven much of the global rally last quarter.
Among individual stocks, Meyer Burger (SIX:) said it successfully completed a rights issue, raising gross proceeds of 206.75 million Swiss francs ($227.7 million), causing the solar panel maker’s shares to plummet 31.9%.