European stocks were flat to slightly lower on Tuesday as investors awaited the European Central Bank’s policy meeting due later this week for signals on when the central bank will consider its first interest-rate cut.
In economic releases, the U.K. budget deficit narrowed in December, figures from the Office for National Statistics showed earlier today.
Public sector net borrowing excluding public sector banks declined GBP 8.4 billion from the last year to GBP 7.8 billion in December. This was the lowest December borrowing since 2019.
The euro zone consumer confidence flash estimates are scheduled for release later in the session.
The pan European STOXX 600 was down 0.2 percent at 472.14 after climbing 0.8 percent on Monday.
The German DAX and the U.K.’s FTSE 100 were marginally lower, while France’s CAC 40 dipped 0.2 percent.
Miners Anglo American, Antofagasta and Glencore rallied 1-3 percent after reports that policymakers are considering fresh stimulus measures for China’s economy and stock market.
British pub operator Marston added about 1 percent after reporting solid holiday sales growth.
Primark-owner Associated British Foods climbed 1.8 percent after releasing its trading update for the 16 weeks to 6 January 2024.
Swedish telecoms equipment maker Ericsson dropped half a percent after saying it expects challenges in the mobile-network industry to continue this year.
Swatch, the world’s biggest watchmaker, fell 2.5 percent after failing to hit the sales record predicted by its chief executive officer.
Computer parts maker Logitech slumped 6.6 percent after saying it anticipates an annual sales decline of 6 percent-7 percent.
French healthcare firm Sanofi fell more than 1 percent after it agreed to buy the U.S. biotech Inhibrx Inc. for as much as $2.2 billion.
European Shares Subdued Ahead Of Consumer Confidence Data
2024-01-23 09:47:24
