Sonova jumps after forecasting accelerating 2024 growth
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May 14 Reuters European shares were subdued on Tuesday as investors braced for a key U.S. inflation data and Federal Reserve Chair Jerome Powell39;s remarks due later in the day, while Delivery Hero jumped on the sale of its Taiwan foodpanda business to Uber.

The panEuropean STOXX 600 was flat, as of 0808 GMT, but hovered near its alltime high hit on Friday.

After strong gains last week, investors are at bay for two days now ahead of the U.S. producer prices inflation data and Powell39;s remarks, one day prior to the marketmoving consumer prices inflation data, for clues on the Fed39;s interest ratecut outlook.

Any signs of CPI softening would benefit both U.S. and European stocks, and will certainly make a rate cut decision for the ECB much easier … What it will probably not want to do is cut two or three times, while the Fed remains on hold, said Stuart Cole, chief macro economist, Equiti Capital.

As for headlining stocks, Delivery Hero soared 20, on track for its biggest oneday gain since December 2019, after Uber announced a 1.25 billion deal to take over its foodpanda business in Taiwan and buy new shares in the German firm.

Swiss eyecare group Alcon advanced 8.7 to an alltime high after firstquarter earnings, while hearing aid maker Sonova Holding climbed 6.4 after forecasting…