While tech shares gain and AstraZeneca lags, European shares remain steady

European shares remained steady on Tuesday following a 1% gain in the previous session, as investors sifted through mixed economic data and awaited an anticipated ECB rate cut later in the week.

The pan-European STOXX 600 index held firm at 510.40 points by 0715 GMT.

AstraZeneca (NASDAQ) was the main laggard, falling 5% after detailed study results revealed that its experimental lung cancer drug did not significantly enhance overall survival rates for patients.

The healthcare sector also experienced a 1% decline.

Germany's DAX dipped 0.1% after data indicated that the country's inflation rate slowed to 2% in August.

In the UK, labor data revealed that average weekly earnings, excluding bonuses, rose by 5.1% year-over-year for the three months ending in July. Consequently, the benchmark FTSE 100 was down 0.2%.

However, the STOXX 600 found support from gains in technology stocks. Capgemini and SAP SE (ETR) saw increases of 4.1% and 0.8%, respectively, following positive results from Oracle (NYSE).

Amplifon, a hearing aid manufacturer, dropped 5% after Apple (NASDAQ) announced that its new AirPods could function as hearing aids.

Paraphrasing text from "Reuters" all rights reserved by the original author.