Last checked at 
* Bullish brokerage comments lift Marks and Spencer
* Tech stocks rally globally
* Travel stocks gain on vaccine optimism
(Updates to market close)
By Ambar Warrick and Sruthi Shankar
Aug 24 (Reuters) - European stocks ended flat on Tuesday as
investors held back from making big bets ahead of an update on
U.S. monetary policy, even as data outlined a
stronger-than-expected economic recovery in Germany.
The pan-European STOXX 600 index closed largely
unchanged at 471.79 points, following a selloff last week that
knocked it off record levels.
Commodity-linked sectors continued to outpace the general
market, as oil and metal prices rose on expectations of a
recovery in major importer China.
Basic resources stocks were the best performers for
the day, rising 2.0%.
Travel stocks also surged nearly 2% after U.S.
health regulators granted full approval to the COVID-19 vaccine
developed by Pfizer Inc and BioNTech SE in a
move that could accelerate U.S. inoculations.
Global stocks wobbled last week after data from U.S. and
Asian economies signalled a slowing global economic recovery, as
a spike in the Delta variant of the coronavirus prompted fresh
restrictions in several parts of the world.
Investors are awaiting U.S. Federal Reserve chief Jerome
Powell's speech at the annual Jackson Hole symposium on Friday
for hints on the central bank's asset purchases tapering plans.
"Since the release of the Fed minutes last week, the
consensus for the start of tapering has moved slightly forward,
from the beginning of 2022 to December 2021," Unicredit analysts
said.
"A hawkish surprise from Jackson Hole appears less likely
and the next topic of major relevance is probably the U.S.
labour market report on Sept. 3."
Meanwhile, German stocks rose 0.3% as data showed
Germany's gross domestic product grew by 1.6% on the quarter
from April to June, slightly up from its previous estimate of
1.5%, helped by private consumption and state spending.
Marks and Spencer Group rose 4.1% after Berenberg
and Credit Suisse raised their price targets on the UK
retailer's stock.
"Despite it being a moderate environment for UK
consumption..., M&S is enjoying favourable positioning, market
share gains from peers disappearing," Credit Suisse analysts
said in a note.
Norwegian salmon farmer Bakkafrost gained 1.9%
following its second-quarter results.
Novartis slipped 1.7% after the Swiss drugmaker
said its Kymriah CAR-T therapy did not meet the primary endpoint
in a late-stage study.
(Reporting by Sruthi Shankar in Bengaluru; Editing by Shounak
Dasgupta and Mark Heinrich)
