European Shares Hold Steady In Lackluster Trade Ahead Of Inflation Data

(RTTNews) - European stocks were seeing marginal gains on Monday ahead of key inflation data from the United States and Europe, due later this week.

Euro zone May consumer prices data for May could provide additional clues on whether the European Central Bank will cut interest rates next week.

The release of the Fed's preferred inflation gauge on Friday could help traders access the timing and pace of Fed rate cuts this year.

Meanwhile, German business sentiment remained unchanged in May, survey results from the ifo Institute showed earlier today.

The business climate index posted 89.3 in May, unchanged from April. The score was forecast to improve to 90.3 in May. The score for April was revised down from 89.4.

The pan European STOXX 600 was marginally higher at 520.90 after declining 0.2 percent on Friday. The German DAX and France's CAC 40 both were up around 0.1 percent.

Trading volumes were thin due to holidays in the U.K. and U.S. for the late May bank holiday and Memorial Day, respectively.

Shares in salmon producer P/F Bakkafrost fell 2.6 percent. Infectious salmon anaemia (ISA) has been found at two Bakkafrost pens at a site in the Faroe Islands, the company confirmed today.

EFG International AG jumped nearly 4 percent on a Bloomberg News report that Julius Baer Group Ltd. is exploring a potential acquisition of its rival Swiss private bank. Alstom shares soared 5.2 percent in Paris. The multinational company specializing in the manufacture of rail transport equipment and systems has launched a share capital increase with preferential subscription rights for an amount of about 1 billion euros, thus executing the final step of the announced 2 billion euros deleveraging plan.