European Stocks Stabilize as Energy Sector Declines, Technology Gains

European shares were stable on Tuesday as investors refrained from placing massive bets ahead of key data from the eurozone, while energy stocks were the biggest loser following a drop in global oil prices. The pan-European STOXX 600 index held its ground at 514.87 points, after reaching a three-week high in the previous session. The oil and gas sector was the biggest loser in the benchmark index, dropping nearly 1 percent, as crude prices fell due to geopolitical risks and weak demand from China. Technology stocks gained 0.6 percent, supported by a 1.3 percent jump in Dutch ASML Holdings. German producer prices decreased 0.8 percent year-on-year in July, in line with expectations. The German benchmark DAX rose 0.2 percent higher. The Swedish benchmark was flat ahead of its central bank rate decision. Jyske Bank gained 2.1 percent after the Danish bank reported its first-half results. Source: Qatar News Agency