European shares struggle for direction ahead of ECB's inflation surveys

European shares were subdued on Tuesday, as investors looked ahead to inflation surveys for insights into the monetary policy path of the European Central Bank (ECB).

The pan-European STOXX 600 index was trading flat, as of 0716 GMT.

Germany's DAX added 0.2% after a report showed German wholesale prices in April fell 1.8% year-over-year.


Later in the day, the spotlight would be on the ECB as it is set to publish inflation expectation surveys. Easing forecasts would reinforce market bets on a rate cut next week, which is priced at a 91% probability.

ECB member Klaas Knot and Federal Reserve's Neel Kashkari are also due to speak in the day that could provide more insights into the outlook for global interest rates.

In corporate news, shares of Norway's Cadeler A/S fell 2.3% after a loss in first-quarter group results.

German flavour and fragrance maker Symrise added nearly 3%, leading gains on STOXX 600, after Deutsche Bank raised the stock's rating to "buy" from "hold".