European Stocks Steady as Data on Monetary Policy Path Awaited

European stocks were steady today, as investors awaited a series of economic data that could provide clues on the path of monetary policy in the euro zone and the United States. The pan-European STOXX 600 index was flat, while Germany's benchmark index rose 0.1 percent after a record high at the end of the previous session. The industrial sub-index also rose (helped by a 4.2 percent jump in Rolls-Royce) after Hong Kong's Cathay Pacific said three of its 48 aircraft powered by Rolls-Royce engines had already undergone successful repairs after inspections, with all aircraft expected to resume operations by this Saturday. The sub-index for mining companies fell 0.6 percent as non-ferrous metal prices fell. Investors await comments from European Central Bank policymakers during the day, looking for clues on the bank's next move at its meeting on 12 September 2024. US manufacturing PMI data, due from the Institute for Supply Management later in the day, and jobs data due on Friday are expected to be crucial t o the Federal Reserve's decision on monetary policy. Source: Oman News Agency