STOXX 600 off 0.2
Technology stocks lead losses
Philips rises on job cut plans
Spain39;s consumer prices rise in January

Jan 30 Reuters European shares slipped on Monday as hotterthanexpected inflation data from Spain added to market jitters as investors brace for a slew of interest rate hikes from prominent central banks later in the week.

The panEuropean STOXX 600 closed down 0.2.

Money market bets show that the U.S. Federal Reserve is set to raise its policy rate by 25 basis points bps to 4.504.75 on Wednesday, while the European Central Bank ECB and the Bank of England BoE are seen raising rates by 50 bps each to 2.50 and 4.0, respectively, on Thursday.

Eurozone bond yields climbed after preliminary data showed Spain39;s consumer prices rose by a greaterthanexpected 5.8 yearonyear in January.

What surprised some people was that in Spain, we had the first acceleration with the annual pace in six months and that is likely to keep the pressure elevated for the ECB to remain aggressive with their rate hikes, said Edward Moya, senior market analyst at OANDA.

It39;s clearly a waitandsee mode. Hotter inflation is something that will continue to spook markets.

Europe39;s technology index was the top decliner among STOXX 600 sectors, down 1.7, with chip stocks ASM International N.V. and Nordic Semiconductor among those posting the biggest losses.

Keeping London39;s FTSE 100 afloat and limiting declines on the STOXX 600, UKbased consumer goods giant Unilever rose…