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European Shares Open Week with Muted Activity, Focus on Inflation Data

European stock markets began the week with subdued activity, as several major markets remained closed and investors adopted a cautious approach ahead of crucial inflation data releases from both the United States and Europe later in the week.

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At 07:13 GMT, the pan-European STOXX 600 index edged down marginally by 0.02%.

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With the closure of U.S. and UK markets on Monday, trading volumes were subdued across the board, contributing to a lackluster start to the week.

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Investor attention is primarily directed towards the euro zone’s May consumer prices data, scheduled for release ahead of the European Central Bank’s (ECB) policy meeting next week. Anticipation is growing for the ECB to initiate interest rate cuts in the forthcoming meeting, with a 90% probability, and softer inflation figures could reinforce expectations of a rate cut in June.

Meanwhile, U.S. inflation data, also slated for release on Friday, holds significance as it will enable traders to gauge the timing and potential magnitude of interest rate adjustments by the Federal Reserve throughout the year.

In corporate developments, shares in salmon producer P/F Bakkafrost experienced a decline of 4.5% on the STOXX 600 index. This slip followed the detection of the ISA virus in two pens at the farming site A-19 Vágur, prompting market reaction.

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