European Shares Muted Ahead of Economic Data; H&M Shines
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#776ce271 ver:0.19
European shares opened flat on March 27, 2024, after closing at a record high in the previous session. The pan-European STOXX 600 index remained steady at 511.07, hovering near the record high reached on Tuesday. Oil and gas shares were the biggest drag on the index, falling 0.7% due to weak oil prices caused by rising U.S. crude inventories. However, H&M, the world's second-largest listed fashion retailer, saw a 12% jump in its shares after beating first-quarter operating profit estimates. The recent dovish signals from major central banks and the rally in technology stocks, driven by the artificial intelligence fervor, have contributed to the STOXX 600 reaching record highs. Market focus will now shift to euro-zone consumer and economic sentiment data for March, as well as the U.S. perso...
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