Stocks, economic data, business news
European markets opened in negative territory on Monday in what will be the region’s last full trading session this year.
The pan-European Stoxx 600 index fell about 0.4% shortly after the opening bell, with all sectors and major exchanges in negative territory. Industrial, media and technology stocks led the losses.
Trading in Europe is expected to be subdued on Monday as markets prepare for the lull ahead of the New Year holidays.
In a flash estimate In the study published on Monday, Spain’s National Statistics Institute (INE) said the annual EU harmonized inflation rate rose to 2.8% in December, compared to 2.4% in November.
The figure was above the 2.6% forecast by analysts in a Reuters poll.
Spain’s core inflation – which excludes fresh food and energy prices – rose 2.6% year-on-year, according to INE estimates.
The update came following Robert Holzmann, member of the Governing Council of the ECB says the Austrian newspaper Kurier There were indications over the weekend that the institute could slow its rate-cutting campaign due to ongoing inflation.
“Right now I don’t see any rate increases,” he said. “What can happen, however, is that it will take longer until the next interest rate cut.”
His comments came as an Italian lawmaker have approved their government’s 2025 budgetwhich aims to bring the country’s budget deficit closer to 3% to comply with EU regulations.
In an interview published on Saturday, France’s newly appointed Finance Minister Eric Lombard told the news agency La Tribune Sunday The country’s upcoming budget proposal for 2025 would target a deficit of just over 5%, according to a translation by Reuters news agency.
Overnight stay in Asia, The stocks were mixed as investors monitored political unrest in South Korea as well as industrial data outside the country. Japan also released economic data earlier in the week that showed the decline in factory activity slowed this month.
Korean airline stocks fell on Monday Jeju Air plane crash a day earlier, 179 people had died and Jeju Air’s share price hit an all-time low.
— Lee Ying Shan of CNBC and Reuters contributed to this roundup of European markets.
