(Reuters) – European shares had a lacklustre start to the week, hovering their lowest levels in more than two weeks, with investors exercising caution ahead of an European Central Bank policy decision later in the week.
The continent-wide STOXX 600 index was trading flat by 0713 GMT on Monday.
Top on investors’ watchlist is the ECB’s monetary policy meet on Thursday, against the backdrop of global nervousness on the timing of interest rate cuts.
With traders widely expecting the central bank to stand pat on interest rates, they will scour for any hints that a first rate cut of 25 basis points could be delivered in June.
German’s DAX marginally outperformed broader European equities, boosted by industrials after data showed industrial production rose more than expected in February, helped by the performance of the construction industry.
Shares of Zalando jumped 4.3% to the top of the STOXX index after brokerage Citigroup raised the German online fashion retailer to “buy” from “neutral”.
(Reporting by Johann M Cherian and Ozan Ergenay; Editing by Sherry Jacob-Phillips)
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