European stocks declined on Monday amid much uncertainty about the outlook for interest rates.
After February U.S. payroll figures exceeded expectations, investors now look ahead to the release of key U.S. consumer price inflation and producer price data this week for further direction.
Closer home, investors are increasingly confident the European Central Bank (ECB) may lead global peers with a rate cut in June.
The pan European STOXX 600 was down 0.3 percent at 501.56 after ending flat with a positive bias on Friday.
The German DAX fell 0.7 percent, France’s CAC 40 shed 0.3 percent and the U.K.’s FTSE 100 was down 0.2 percent.
Tech stocks led losses, with Infineon Technologies and ASM International both falling more than 2 percent due to profit taking after recent strong gains.
Miners retreated on growth concerns, with Anglo American and Glencore falling 1.4 percent and 2 percent, respectively.
British electronics retailer Currys plunged more than 8 percent after Elliott Investment Management said it had decided not to make a takeover bid for the company.
Marston’s rose about 1 percent as the chair of the brewing and pub giant confirmed his intention to step down later this year.
British Land fell about 1 percent after the commercial property firm appointed William Rucker as chair designate.
Tobacco giant Imperial Brands rallied 3 percent after announcing a £1.1 billion share repurchase program.
Shares of German meal kit giant HelloFresh rallied nearly 4 percent after having plunged over 40 percent in the previous session following an earnings warning.
Italian energy producer Enel S.p.A. gained about 1 percent after its subsidiary E-distribuzione agreed to sell some of its distribution activities to Italian utility A2A for about 1.2 billion euros ($1.3 billion).
Business News
European Shares Decline As Focus Shifts To US CPI Data
2024-03-11 09:34:03
