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* Mining stocks were best performers
* Food and beverage stocks hurt by Tate & Lyle
* HSBA dips on U.S. retail banking exit
(Adds details on Airbus, updates prices)
By Ambar Warrick
May 27 (Reuters) - European shares inched higher on Thursday
as investors awaited key U.S. labour data, while German shares
fell after shares in pharmaceuticals maker Bayer were hit by a
court ruling.
The pan-European STOXX 600 index rose 0.1% to
445.76 points, just below Tuesday's record high of 447.15.
French planemaker Airbus was among the best
performers, rising 6% after it set out sweeping goals to expand
production of jetliners, as the airline industry recovers from
the COVID-19 pandemic.
German shares shed around 0.4%, lagging other
regional markets, with Bayer the biggest drag on the
DAX, falling more than 4%.
The stock was set for its worst day in three months after a
U.S. judge rejected its class action plan to settle future
claims related to its Roundup and other glyphosate-based
weedkillers.
European shares have moved little this week, but achieved
record highs as continued affirmations of easy monetary policy
and waning concerns over inflation painted a favourable picture.
Investors are awaiting U.S. jobless claims data, which is
due later in the day and personal consumption data on Friday,
two important metrics considered by the Federal Reserve in
adjusting policy.
"Market participants stayed relatively indecisive ahead of
tomorrow's release of the core PCE index, which is the Fed's
favourite inflation metric," Charalambos Pissouros, senior
market analyst at JFD Group wrote in a note.
Mining stocks added 2%. The sector was the best
performing European sector as metal prices rose on concerns over
supply disruptions in top copper producer Chile.
Food and beverage stocks were the worst performers,
falling 0.6% on losses in British processed foods maker Tate &
Lyle. The stock shed more than 5% after its annual
revenue fell.
Among other movers, HSBC fell 0.2% after the
British bank said it was exiting its U.S. retail business to
focus on Asia, its biggest market.
Puma fell 2% after French luxury goods group
Kering said it will sell a 5.9% stake in the German
sportswear firm through a share placement.
(Reporting by Ambar Warrick in Bengaluru; Editing by Arun
Koyyur and Alexander Smith)
