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July 1 (Reuters) - European shares started the new quarter
on a sombre tone on Wednesday, as surging U.S. coronavirus cases
kept optimism in check ahead of a slew of economic data.
The pan-European STOXX 600 index .STOXX rose 0.2% by 0718
GMT, after closing out its best quarterly gains since March 2015
in the previous session.
The German DAX .GDAXI gained 0.7% as data showed retail
sales rose sharply in May, reflecting a rebound in private
consumption after the country lifted coronavirus-inflicted
restrictions. Drugs and pesticides maker Bayer BAYGn.DE jumped 3.4%,
providing the biggest boost.
German unemployment and U.S. manufacturing activity and
private jobs data are all due later in the session.
A cautious tone prevailed across the global markets, as the
United States on Tuesday recorded its biggest single-day spike
since the pandemic began, dimming hopes that the economic pain
had passed. Swiss specialty chemicals maker Clariant CLN.S gained 6.9%
as it completed the $1.6 billion sale of its masterbatches unit
to PolyOne Corp POL.N , allowing the payment of a special
dividend amounting to $3 per share.