(Reuters) – European shares were largely flat on Wednesday as gains in miner Antofagasta after a rating upgrade were countered by losses in real estate stocks.
The pan-European STOXX 600 index held its ground at 557.21 points after closing at a record high in the previous session.
Germany’s main stock index was up 0.3%, hitting an all-time high for the third straight session.
Yields on euro zone bonds ticked higher for the fourth day, limiting any gains in equities.
The energy sector rose 0.5% in tandem with oil prices. [O/R]
Britain’s FTSE was flat despite inflation speeding up more than expected to hit a 10-month high of 3.0% in January.
Among stocks, BP rose 1% after a report said the oil major is considering a potential sale of its lubricants business, Castrol, which could be worth about $10 billion in a deal.
Philips lost 7.4% after the Dutch healthcare technology company missed market expectations for the final quarter of last year.
Antofagasta gained 2.9% after J.P. Morgan upgraded the rating on the miner to “overweight” from “underweight”.
Stmicroelectronics jumped 6% after Jefferies upgraded its rating on the stock to “buy” from “hold”.
(Reporting by Pranav Kashyap in Bangalore; Editing by Sonia Cheema)
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