European Shares Steady Amid Mixed Sector Movements

European shares remained stable on Monday, with losses in the automotive sector balancing gains in technology stocks. Investor anticipation was high for remarks from several Federal Reserve officials scheduled for later in the day.

The pan-European STOXX 600 index stayed unchanged at 553.9 points by 0707 GMT. Spanish stocks underperformed, dipping 0.9%, while Germany's Porsche experienced a 4.7% drop due to a reduced 2025 profit outlook amid faltering electric vehicle demand.

Volkswagen pulled back its profit expectations for 2025 and saw shares fall by 4.5%. Conversely, technology stocks rose, driven by a 0.9% increase, aided by chipmakers ASML and ASMI, which advanced 2.9% and 1.9%, respectively. Fugro's shares plummeted 11.9% after the company withdrew its annual forecast, attributing the move to recent shifts in market conditions.

(With inputs from agencies.)