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March 19 (Reuters) - European stocks were subdued on
Tuesday as losses in technology shares offset gains in consumer
staple stocks ahead of key euro zone economic data due later in
the day.
The pan-European STOXX 600 index was down 0.1% by
8:24 GMT, led by a 0.6% selloff in technology shares.
Investors will look out for fourth-quarter euro zone data on
wages and labour costs, along with Germany's ZEW economic
sentiment survey for March, all due for 1000 GMT.
However, the main focus remains on the U.S. Federal
Reserve's monetary policy decision on Wednesday, where the
central bank is widely expected to hold interest rates. All eyes
will be on its economic projections and how many rate cuts it
estimates for the year.
Property platform Hemnet rose 5.5% to the top of
STOXX 600 after Jefferies raised its rating on the company's
shares, while HelloFresh dropped 4.4% to the bottom of
the index after Barclays downgraded the German meal-kit maker.
Unilever ( UL ) rose 5% after the consumer goods group
said it plans to spin off its ice cream unit into a standalone
business, as the consumer goods group announced a new
cost-savings programme that would cut 7,500 jobs.