European shares steady with focus on speeches by cenbank policymakers

European shares edged higher on Tuesday ahead of comments by central bank policymakers against the backdrop of expectations that the global interest-rate increase cycle would last for longer, while bumper profits from BP lifted energy stocks, reports Reuters.
The pan-European STOXX 600 was up 0.3 per cent at 0936 GMT, rebounding from its steepest single-day fall in three weeks on Monday.
The energy index was the top sector index performer with 1.4 per cent gains and was set for its biggest one-day climb in a month.
BP jumped 4 per cent and was on track for its biggest single-day increase in two months following record profit, increased dividend and a $2.75-bilion share buyback.
Losses in industrial shares capped the upside for the STOXX 600. Airbus SE fell 1.8 per cent after Berenberg downgraded the aerospace and defence company's stock to "sell" from "hold".
Caution prevailed ahead of Federal Reserve Chair Jerome Powell's speech at 1740 GMT (1240 p.m. ET) following strong economic data just days after the US central bank acknowledged easing inflation and hiked rates by a quarter percentage point.
Investors also awaited remarks by European Central Bank member Isabel Schnabel and policymakers Peter Kazimir and Klaas Knot due later in the day, following a relatively hawkish tone by the central bank and a 50-basis point rate hike last week.
"We're in this tough situation trying to assess what means what, and for the last three months bad data has been good for equity markets, which meant that central banks were going to start easing and equities like easy money," said Daniela Hathorn, senior market analyst at Capital.com.
Meanwhile, a survey showed that euro zone's inflation expectations edged up again in December, indicating that the recent rate hikes and falling energy prices have not yet tempered price growth fears.
Among other stocks, Danish medical device maker Ambu A/S jumped 16 per cent and topped the STOXX 600 on first-quarter earnings beat, while Nordic Semiconductor ASA slid to the bottom of the benchmark index with 15 per cent losses on fourth-quarter miss.
Sensor maker ams-OSRAM slumped 19.1 per cent after reporting weak first-quarter outlook and suspending its 2022 cash dividend.
Siemens Energy fell 4.3 per cent after its first-quarter net loss more than doubled, while euro zone's largest lender BNP Paribas gained 1.5 per cent after raising its 2025 targets and announcing a 5-billion-euro share buyback in 2023.
Demant jumped 6.4 per cent after the hearing aid maker's operating profits for the second-half of 2022 topped expectations and the company said it expects 2023 organic growth between 3 per cent and 7 per cent.
On the economic front, German industrial production fell more than expected in December, decreasing by 3.1 per cent on a monthly basis.