UPDATE 2-Inditex, Just Eat and tech stocks spice up European trading ahead of Fed

Reuters

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    * STOXX 600 up 0.2 pct
    * Inditex ends higher after results
    * Tech stocks rise on Adyen fintech IPO
    * Just Eat falls on Deliveroo competition worries

 (Adds details, closing prices)
    By Helen Reid
    LONDON, June 13 (Reuters) - Trading in European shares was
hesitant on Wednesday as investors awaited guidance from the
Federal Reserve on future U.S. interest rate rises, while
Inditex rose after results and Just Eat was bruised by
intensifying competition.
    Benchmarks barely budged, with all the action at the stock
level. The pan-European STOXX 600  .STOXX  ended up 0.2 percent
while Germany's DAX  .GDAXI  added 0.4 percent and Britain's
FTSE 100  .FTSE  ended flat.   
    Just Eat  JE.L  fell 4.7 percent as investors priced in
heightened competition after rival Deliveroo said it would let
restaurants use their own riders for orders placed through its
app.  urn:newsml:reuters.com:*:nL8N1TE47J
     Inditex  ITX.MC  rose 3.5 percent after the world's biggest
clothing retailer reported improved first-quarter profitability
despite the dampening impact of a strong euro.
    Shares in the owner of fashion brand Zara had opened lower
on profit taking and concerns around the quality of its results
but later recovered with traders citing strong sales of its
summer collections.     
    Tech stocks  .SX8P  were the best-performing, up 1.7 percent
after shares in Dutch fintech firm Adyen  ADYEN_w.AS  rocketed
up 90 percent in its first day of trading following an initial
public offering.
    Peers also involved with payments processing technology got
a boost. Ingenico  INGC.PA  led the way with a 6.7 percent gain,
while Wirecard  WDIG.DE  also rose 3.7 percent.     
    Dixons Carphone  DC.L  shares fell 2.7 percent after the
company announced a data breach in which 1.2 million records of
non-financial personal information had been accessed.
 urn:newsml:reuters.com:*:nL8N1TF16D
    Paris airports operator ADP  ADP.PA  rose 6 percent after
the government said it would prepare the legal ground for a sale
of some of its corporate assets.  urn:newsml:reuters.com:*:nFWN1TF05Q
    Overall European equities have been searching for direction
and are around flat for the year so far. 
    "I would expect a lateral, flat market from now through the
summer with some rotation," said Angelo Meda, head of equities
at Banor SIM. 
    "Cyclicals have been the best year to date so I would expect
some recovery from the staples."
     In regional benchmarks, Italy maintained its outperformance
with a 0.4 percent gain after the country's new EU affairs
minister Paolo Savona said the euro was "indispensable".
 urn:newsml:reuters.com:*:nL8N1TF11L
    "Now we are seeing that all the interviews made by
politicians are going in the right direction," said Meda. 

 (Reporting by Helen Reid and Danilo Masoni Editing by Catherine
Evans and Andrew Heavens)
 ((mailto:Helen.Reid@thomsonreuters.com; +44 20 7542 0402;))

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