European shares ended little changed on Monday as a surge in oil prices buoyed energy stocks but spurred inflation and interest rate worries, overshadowing forecast-beating profits by Philips, according to Reuters. A $1 leap in crude prices also weighed on European chemicals companies such as BASF on concerns that pricier raw materials would eat into their profits. BASF fell 1.4 percent. But car makers outperformed with DaimlerChrysler up 1.6 percent after sources said three buyout firms were vying to buy the German carmaker's heavy diesel engine unit, MTU Friedrichshafen, for more than 1 billion euros ($1.2 billion). Takeover speculation also lifted Easynet by 21.8 percent. The UK Internet service provider confirmed it had received a bid approach, a day after a source said it was about to be purchased by satellite broadcaster BSkyB. The pan-European FTSEurofirst 300 index closed flat at 1,195 points. The market has lost nearly 4 percent retreat in less than two weeks.
