European stocks stabilize ahead of inflation data

Traders traded European stocks in a narrow range on Wednesday and remained cautious ahead of a key inflation report that could affect expectations about the timing of the European Central Bank’s first interest rate cut.

The European STOXX 600 index was flat at 0715 GMT.

After the inflation report in Germany, the region’s largest economy, which came in lower than expected on Tuesday, the focus will be on the euro zone inflation report for March, due at 0900 GMT.

Excluding volatile components, consumer prices are expected to rise 3 percent in March, down from a 3.1 percent rise the previous month.

The technology sector rose 0.3 percent amid volatile trading. The powerful earthquake in Taiwan has raised concerns about potential disruptions to the biochip industry, which drove much of the global rally last quarter.

Among individual stocks, shares of solar panel manufacturer Meyer Berger fell 31.9 percent after it said it had successfully completed a capital increase through a rights issue for additional shares, resulting in total proceeds of 206.75 million Swiss francs ($227.7 million).