Deutsche Bank hits 6year high on MS upgrade
DS Smith jumps on 7.22 bln buyout offer
Sweden39;s central bank keeps interest rates unchanged
STOXX 600 down 0.1

March 27 Reuters European stocks struggled for direction on Wednesday after closing at a record high in the previous session as investors waited for more economic data due later this week, while HM shares surged following upbeat quarterly results.

The panEuropean STOXX 600 edged 0.1 lower, as of 0923 GMT.

Oil and gas shares were the biggest drag, down 1, mirroring weak oil prices on rising U.S. crude inventories.

A 10.6 tumble in shares of Swedish software firm Fortnox also weighed on the index.

HM topped the gains, rising 13.1 after the world39;s secondlargest listed fashion retailer beat firstquarter operating profit estimates.

Still, the index is eyeing a second straight quarterly gain, with a 6.6 gain so far.

Recent dovish signals from major central banks and a rally in technology stocks powered by the artificial intelligence fervour have spurred STOXX 600 to record highs.

This week is likely to be dominated by position squaring as we enter into a holiday period. The key data for the week is on Friday, when the market is closed, said Mohit Kumar, chief economist Europe at Jefferies.

Focus will shift to the eurozone consumer and economic sentiment data for March later in the day. The U.S. personal expenditure consumption data, due on Friday, will be closely watched for further cues on the Federal…