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(Sharecast News) - European shares edged ahead on Wednesday as traders awaited US inflation data and earnings from tech giant Nvidia.
The pan-regional Stoxx 600 index was up 0.07% to 656.96 at 1059 GMT with all major bourses in the green bar Britain's FTSE 100.
Brent crude fell for the third straight day as Iran and Oman resumed talks on a safe passage through the Strait of Hormuz, with the benchmark oil price down 2.45% to $86.45 a barrel.
US personal consumption expenditure data for July - the Federal Reserve's preferred measure of inflation - is due out later in the day. Analysts are forecasting a rise in headline inflation to 3.6%, while core inflation, which excludes volatile energy and food prices, is expected to rise to 3.2%
On the equities front all eye will be on second-quarter results from artificial intelligence darling Nvidia amid broader questions in the sector about stock overvaluations and the frenzied rush to build energy and water hungry data centres.
There was little to report on European stock markets. Ambu shares tanked by 16% after Nordea marked the shares down to a 'hold' from 'buy'.
Reporting by Frank Prenesti for Sharecast.com
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