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Aug 24 Reuters European shares were little changed on Wednesday, as a rise in defensive stocks countered worries over a looming energy crisis and gloomy growth outlook, while hawkish comments from some U.S. Federal Reserve officials also kept sentiment in check.

The panEuropean STOXX 600 was flat in choppy early trade, hovering near onemonth lows and weakened by a 1.2 loss in miners.

Defensive sectors including utilities led gains.

The benchmark fell for three straight days until Wednesday as markets assessed rising interest rates, bleak economic data, high inflation and a potential recession.

Additionally, European benchmark gas prices have tripled in a little over two months as a winter of unreliable energy supplies from Russia looms.

There was a strong global equity rally earlier led by the U.S. that dragged up Europe with it, but the European outlook is still very difficult, said Graham Secker, Morgan Stanley39;s chief European equity strategist.

As we go into Jackson Hole, the market is beginning to reassess that rally, thinking the Fed is still going to stay hawkish, so we39;re seeing some profit taking.

Investors were cautious ahead of the symposium after Minneapolis Federal Reserve Bank President Neel Kashkari on Tuesday reiterated the Fed39;s focus on controlling inflation ahead of all else. 

European inflation…