Economic news

European shares dip before Powell testimony

European shares retreated on Tuesday, with major indexes edged lower as investors focused on Federal Reserve Chairman Jerome Powell's testimony to Congress.

Photo: Reuters

The Stoxx Europe 600 index slipped 0.2% to 382.49.

Germany’s DAX 30 index inched down 0.1% to 12,512.07, and France’s CAC 40 ticked up 2 points to 5,345.97. The UK’s FTSE 100 rose 0.1% to 7,299.26.

Shares in Sky soared 19% after the U.S.-based Comcast has launched a bid for British pay TV broadcaster Sky for 22.1 billion pounds (more than $30 billion).

Investors also awaited the Italian election on March 4.

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