European shares steady as tech losses weigh on energy gains

European shares were flat at the open on Monday as losses in technology stocks offset gains in resource-related shares, with the focus still on the U.S. presidential election.

The pan-European STOXX 600 index was flat at 510.73 points by 0809 GMT, with the technology sector among the biggest losers, down 0.6%.

STMicroelectronics, Europe’s largest chipmaker by revenue, fell 1.9% after Morgan Stanley downgraded the stock, according to Reuters.

The basic resources sector led gains early in the session, up 0.5% as base metals prices rose, while energy stocks added 0.5% as crude oil prices rose on OPEC+’s decision to delay plans to boost output.

All eyes now turn to Tuesday’s U.S. election, with opinion polls suggesting a tight race between Republican nominee Donald Trump and Democratic Vice President Kamala Harris.