European shares muted ahead of economic data, French elections; H&M plunges

June 27 - European shares were flat on Thursday as investors avoided large bets ahead of crucial global economic data and the first round of French elections, while H&M sank after missing quarterly profit forecasts.

Retail stocks , opens new tab slid 1.8% as H&M , opens new tab, the world's second-biggest fashion retailer, plunged 12% after missing quarterly earnings forecasts and predicted a drop in June sales. Basic resources , opens new tab slipped 0.6%, led by a 2% drop in miner Anglo American , opens new tab after Berenberg cut the stock's rating to"sell" from"hold", citing concerns over the company's new strategic plans.

On the bright side, Britain's Serco Group , opens new tab jumped 6.8% after the outsourcing company raised its annual profit forecast.

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