(Reuters) – European shares opened subdued on Tuesday, as metal miners partially offset a technology-related rally fuelled by robust earnings from SAP and Logitech.
The pan-European STOXX 600 index was flat at 514.9 points, as of 0715 GMT, after posting its best day in more than a month on Monday.
Earnings updates grabbed investor attention, with SAP jumping 6.2% after Europe’s largest software maker reported a 25% jump in its cloud business and beat analysts’ estimates for second-quarter revenue.
Shares of Logitech International advanced 2.3% after the computer mouse maker raised its full-year sales and profit outlook on strong quarterly growth.
The technology sub-index, which houses both the stocks, advanced nearly 1%.
A 1.5% fall in metal miners, however, weighed on the benchmark index as copper prices came under pressure due to concerns over top consumer China’s demand outlook. [MET/L]
New data and macro-economic projections will help the European Central Bank reassess its monetary policy stance in September, ECB Vice President Luis de Guindos said in an interview with Europa Press.
(Reporting by Pranav Kashyap and Shristi Achar A in Bengaluru; Editing by Sherry Jacob-Phillips)
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