STOXX 600 down 0.4
UK39;s Rightmove jumps on potential takeover bid from Australia39;s REA Group

Sept 2 Reuters European shares started the week on a tepid note, led by weakness in miners amid a dataheavy week, while investors awaited speeches from European Central Bank ECB officials for clues on the central bank39;s policy trajectory this week.

The panEuropean STOXX 600 index was down 0.4, off its record highs last week, after inflation in the euro zone fell to 2.2 in August, its slowest pace since July 2021.

All major European markets, including those in Germany, Spain and Italy, were also down around 0.4.

Everyone is taking a breather after a pretty hectic August in terms of market price action at least and really looking for signals on the macro side that the soft landing scenarios are in place and that central banks can begin to lower rates, said Richard Flax, chief investment officer of Moneyfarm.

ECB policymakers are increasingly at odds on the outlook for growth, a rift that could shape the rate cut debate for months, with some fearing a recession and others focusing on lingering inflation pressures, sources close to the debate said.

Money markets have almost fully priced in a 25 basispoint rate cut by the ECB on Sept. 12, with total easing of around 60 bps by the end of 2024, according to LSEG39;s interest rate probabilities.

Consumer discretionary sectors, including automobiles and retail, weighed on the markets with a nearly 1 decline.

Miners were…