European Shares Struggle For Direction Ahead Of ECB Lagarde’s Speech

European stocks struggled for direction on Monday as investors awaited speeches from ECB policymakers including chief Christine Lagarde later in the day for interest rate guidance.

Lingering concerns over potential impacts from U.S. President-elect Donald Trump’s global economic policies also served to keep underlying sentiment cautious.

The pan European STOXX 600 was down 0.3 percent at 501.67 after falling 0.8 percent on Friday.

The German DAX and France’s CAC 40 both slid around 0.2 percent, while the U.K.’s FTSE 100 was up 0.1 percent.

The EUR/USD consolidated above 1.0500 ahead of key regional inflation data and euro zone November flash PMIs due later in the week.

Nvidia, the world’s most valued company by market capitalization will declare its third quarter results on Wednesday, with traders watching for guidance about the company’s demand for its Blackwell AI chips.

In corporate news, Dutch technology investor Prosus rallied 1.2 percent and Naspers, the owner of Takealot, Media24 and more, gained 1.6 percent after posting better-than-expected interim earnings.

Melrose Industries, the owner of aerospace parts maker GKN Aerospace, jumped 9 percent in London after reporting a 7 percent rise in revenue for the four-month period ended Oct. 31 and reiterating outlook for the rest of the year.

AstraZeneca fell more than 1 percent despite receiving EU approval for its lung cancer drug.

Elementis gained 1 percent. The specialty chemicals firm announced that its chief executive officer Paul Waterman would step down following nine years at the helm.

Vivendi SA shares were down about 1 percent. The French media company today announced its expectations for its audio, visual content provider Canal+, and public relations firm, Havas SA. The two units are scheduled to be listed next month.