Siemens Energy shares reverse course
EZ investor mood stops nosedive in August
STOXX down 0.2

Aug 7 Reuters European stocks slipped on Monday as investors awaited key inflation figures from across the globe this week to gauge the outlook for interest rates, while shares of German group Siemens Energy reversed course after slumping earlier.

Siemens Energy gained 1.1 to 15.7 euros, after having fallen as much as 7.

The German energy group said problems recently unveiled at its wind turbine unit would cost it 2.2 billion euros 2.4 billion, well short of worstcase estimates but still casting doubt over the future of the business.

Ugly and sizeable headline numbers are inevitable as part of this clearing process, it39;s clearly a bad situation, said Philip Buller, analyst at Berenberg.

However, from a share price standpoint, we appear to have found a floor at around EUR 15.

However, Germany39;s DAX fell 0.3, and the broader panEuropean STOXX 600 edged down 0.2 ahead of inflation readings from Germany, China and the U.S. later this week, all likely to drive expectations on how long interest rates could remain high.

The basic resources index lost 1.0 as shares of Aurubis AG fell 7.8 despite Europe39;s largest copper producer reiterating its forecast for a strong core profit in its current financial year.

We39;ve seen a little bit of negative momentum from these earnings because investors are punishing the fact that these results are actually even more dire than…