European shares rise ahead of euro zone inflation data
April 4 (Reuters) - European shares rose on Tuesday as investors rebuffed concerns about surprise output cuts by OPEC and its allies while awaiting euro zone producer prices for more clues on the European Central Bank's (ECB) monetary tightening path.
The pan-European STOXX 600 index rose 0.5% by 0707 GMT, after a subdued trading session in the previous day as a jump in oil prices stoked fears of inflation.
Oil and gas shares continued to gain, with the index adding 0.3% after clocking its biggest one-day gain since November on Monday.
Euro zone producer prices for February will be on investors' radar during the day, which is expected to show a contraction in prices in February on a monthly basis.
L'Oreal shares inched up 0.5% after the cosmetics group struck a deal with Brazil's Natura & Co to buy Aesop, its Australian luxury brand, at an enterprise value of $2.53 billion.
Bayer AG was up 0.6% after a Delaware judge dismissed Merck lawsuit seeking to hold Bayer responsible for more talc-related liabilities stemming from its purchase of Merck's consumer care business in 2014. (Reporting by Shubham Batra in Bengaluru; editing by Uttaresh Venkateshwaran)
