Sept 1 - European shares were flat on Friday as a decline in luxury firms and automakers offset gains in commodity-linked sectors, while Danish drugmaker Novo Nordisk dethroned LVMH as Europe's most valuable listed company.
Also weighing on the sector was top electric-car maker Tesla cutting its premium Model S and Model X prices in its top markets China and the United States. Another survey, however, showed the euro zone manufacturing downturn eased last month, suggesting the worst may be over for the bloc's beleaguered factories although demand weakened to its lowest in almost a year.
Policymaker Francois Villeroy de Galhau noted the European Central Bank has a range of options at its policy meeting, although interest rates are near their high point and there are signs underlying inflation has peaked.
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